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Read more about IRFC issues USD 750 mn bonds at a fixed rate of 2.80% for 10 years on Business Standard. The bonds will be issued on 10 February, 2021 for a tenor of 10 years at a fixed rate of 2.80%. The bonds carry semi-annual interest payment and bullet principal repayment.
IRFC prices USD 750,000,000 bonds
Posted On: 2021-02-03 19:07:51 (Time Zone: Arizona, USA)
Indian Railway Finance Corporation Limited (the Issuer or IRFC ) had on 3rd February, 2021 priced its USD 750,000,000 bonds based on a Rule 144A / Regulation S offering format under IRFC s recently updated USD 4 billion global medium term note programme. The bonds will be issued on 10th February, 2021 for a tenor of 10 years at a fixed rate of 2.80%. The bonds carry semi-annual interest payment and bullet principal repayment.
The net proceeds from the issuance of these bonds will be utilized in accordance with the external commercial borrowing regulations of the Reserve Bank of India.
IRFC sells $750 million bonds at 2.80% after listing
The bonds will be issued on 10 February, 2021 for a tenor of 10 years at a fixed rate of 2.80%.
(Ramesh Pathania/Mint)
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Indian Railway Finance Corporation (IRFC) today said it has sold USD 750 million worth of dollar-denominated bonds to overseas investors priced at a coupon of just 2.80% per annum.
This is the maiden debt market activity that Railways financing arm has done since going public on January 29 after the biggest IPO of the fiscal collecting ₹4,633 crore through a public issue. It was subscribed 3.49 times during January 18-20.
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IRFC issues USD 750,000,000 bonds at a fixed rate of 2.80 pc
Mumbai, Feb 4 (UNI) Indian Railway Finance Corporation Limited (IRFC) the dedicated market borrowing arm of the Indian Railways on February 3, 2021 priced its USD 750,000,000 bonds based on a Rule 144A / Regulation S offering format under IRFC s recently updated USD 4 billion global medium term note programme.
The bonds will be issued on February 10,2021 for a tenor of 10 years at a fixed rate of 2.80 pc. The bonds carry semi-annual interest payment and bullet principal repayment.
Commenting on the issuance, Shri Amitabh Banerjee, Chairman and Managing Director, IRFC, said, IRFC is a well-known name in the foreign bond issuance. The amount is a part of our USD 4 billion global term note programme. We will be looking to raise the rest of the amount by the end of this fiscal. Our credit ratings are similar to the sovereign rating of the country which help us in getting competitive rates with suitable tenors.