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.