IRFC updates on global medium term note programme

Indian Railway Finance Corporation Limited (the "Issuer" or "IRFC") has recently updated and upsized its global medium term note programme (the "Programme"), pursuant to which the aggregate principal amount of notes that may be issued under the Programme has been increased from USD2,000,000,000 to USD4,000,000,000. The Programme is listed on the Singapore Exchange Securities Trading Limited (SGX) and the India International Exchange (IFSC) Limited (INX).

Further, in connection with the above mentioned Programme, IRFC, rated Baa3 (Negative) / BBB- (Stable) / BBB- (Negative) by Moody's / S&P / Fitch, respectively, has mandated BNP PARIBAS, DBS Bank Ltd., HSBC, MUFG, SBICAP and Standard Chartered Bank as Joint Lead Managers and Joint Bookrunners to arrange a series of fixed income investor calls in Asia, Europe and U.S. commencing February 2nd 2021. A benchmark sized intermediate to long tenor USD Regulation S / Rule 144A senior unsecured notes (the "Notes") offering under the Issuer's Programme may follow, subject to market conditions.*

The net proceeds from the issuance of these Notes will be utilized in accordance with the external commercial borrowing regulations of the Reserve Bank of India.

Source : Equity Bulls

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