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IRFC issues USD 750,000,000 bonds at a fixed rate of 2.80 pc


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. ....

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