State Bank of India to Repurchase Bonds

State Bank of India ("SBI") wishes to announce the repurchase of a principal amount of US$147,000,000 (the "Repurchase") of US$1,000,000,000 3.25 per cent bonds due 2018 (the "2018 Bonds"). The 2018 Bonds were issued. by State Bank of India on April 18, 2013 and are listed on the Singapore Exchange Securities Trading Limited.

The Repurchase of the Bond took place between August 26, 2013 and September 26, 2013. We are in the process of cancelling the repurchased 2018 Bonds and the aggregate outstanding principal amount of the 2018 Bonds following such cancellation will be US$853,000,000.

None of the Directors or the controlling shareholder of SBI have any interest, direct or indirect, in the Repurchase.

Shares of State Bank of India last traded in BSE at Rs.1641.70, down by Rs.33.50 or 2%. The stock hit an intraday high of Rs.1689.95 and low of Rs.1628.

The total traded quantity was 3.19 lakhs compared to 2 week average of 4.85 lakhs.

Source : Equity Bulls

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