IRFC rings the bell at India INX in GIFT IFSC for listing of USD 750 million 10-year bond priced at 2.80% p.a.

IRFC (Indian Railway Finance Corporation) raised USD 750 million in 10-year money under its USD 4-billion global medium-term note programme established on the Global Securities Market (GSM) of India International Exchange at GIFT IFSC.

Shri Injeti Srinivas Chairman IFSCA, Shri Amitabh Banerjee Chairman and Managing Director IRFC along with Shri V.Balasubramaniam, MD & CEO India INX rang the bell at India INX in GIFT City IFSC celebrating the listing of the foreign currency bonds on India INX. The issue, at coupon of 2.80% p.a., was oversubscribed by more than 4 times.

Commenting on the success, Mr. V. Balasubramaniam, MD & CEO, INDIA INX said, "Heartiest congratulations to IRFC and we are delighted to list one more drawdown of USD 750 Million notes under the USD 4 Bn GMTN programme of IRFC. The aggregate MTNs established on India INX platform since launch in Jan 2018 is worth over USD 50.5 Bn and listing of bonds aggregate to USD 26.3 Bn. This marks a very special day for us, since about 3 years ago in January 2018, the Global Securities Market platform was inaugurated by listing of Green bonds issued by IRFC. With the constant support of our regulator in providing us with a highly enabling framework that puts us at par with other global listing venues it is our endeavour to be the leading Exchange in terms of listed debt instruments not only in IFSC but globally."

IRFC has already listed USD 1.5 Billion bonds under its USD 4 Billion Global Medium Term Note programme and USD 500 Million green bond issuance on India INX. On February 11, 2021, the singleday trading turnover on the Exchange crossed an all-time high of USD 24.59 Billion. The Exchange has also made available listing of Global Depository Receipts, REITs and InvITs.

Speaking on the occasion, Mr. Amitabh Banerjee, Chairman & MD IRFC said, "IRFC is happy to be listing again on India International Exchange at IFSC, GIFT City. This gives us immense opportunities to reach out to international investors and raise funds using a wide variety of products and currencies. IRFC and India INX have a strong relationship and we look forward to partnering with India INX in years to come. IRFC will continue to focus on the railway sector and play a critical role in development, modernisation and growth of the Indian Railways. I once again thank millions of investors across the world who have continued to repose confidence in IRFC which has helped the company meet the funding requirements of Indian Railways, going a long way towards fulfilling the goals of Atmanirbhar Bharat programmes on building rail infrastructure in particular and nation building in general."

Source : Equity Bulls

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