SBI raised $500 million through a five-year dollar ⁠bond issued via its London branch, the lender said in a stock exchange filing late on Tuesday. These bonds will be priced at a spread ‌of 88 basis points over US Treasuries, sharply below initial guidance of 120 bps. The final spread was ‌broadly ⁠in line with CreditSights’ expectation of 90 basis points, ⁠although the research firm expects it to tighten further to around 80 basis points in the secondary market. The lender witnessed tightest ⁠pricing, after ICICI Bank sold notes at 100 bps, while HDFC Bank sold notes at a spread of 90 bps over Treasuries. Large ⁠private lenders, including HDFC Bank, Axis Bank and ICICI Bank have raised ⁠funds through dollar bonds in June and July.