IRFC garners $500 mn through green offshore bonds; lists bonds at GIFT City
Indian Railway Finance Corporation Limited (IRFC), the dedicated market borrowing arm of the Indian Railways, has raised USD 500 million (about Rs 3,500 crore) through issuance of green offshore bonds.
IRFC is the first Central Public Sector Enterprise (CPSE) to list its offshore bonds exclusively at Indian stock exchanges established in the GIFT City, Gandhinagar.
The bonds issuance is part of the USD 7 billion Global Medium Term Note (GMTN) Programme, IRFC said in a statement on Monday.
The bonds were issued in a single tranche of 10-year and the order book was over-subscribed to the tune of 2.4 times.
“In the current highly uncertain volatile conditions, the bonds have been priced very tightly over the 10-year benchmark UST on account of superior credit quality of IRFC.
