JSA, Linklaters, A&O advise on Formosa bonds

JSA, Linklaters, A&O advise on Formosa bonds

JSA and Linklaters advised the State Bank of India when it issued USD300 million in Formosa bonds, which are listed on the Taipei Exchange and the India International Exchange. Allen & Overy advised the managers on the issue.

The bonds were issued on 26 January and are a first for an Indian commercial bank.

JSA’s team was led by partner Dina Wadia and included partner Uttara Kolhatkar. Linklaters’ team was led by its Singapore-based partner Amit Singh.

The senior unsecured bonds carry a 2.49% coupon and are due in 2027. They were issued under the State Bank of India’s USD10 billion medium-term note programme. Formosa bonds are notes that are sold in Taiwan but denominated in foreign currency.