State Bank of India has accepted bids worth $600 million for its five-year U.S. dollar-denominated bond issue, the lender said in a notice to stock exchanges late on Wednesday.

The nation’s largest bank will pay a semi-annual coupon of 5.00%, the notice showed.

SBI received bids worth over $3.5 billion and the coupon is at a spread of 117 basis points over the five-year U.S. Treasury yield.

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