IFC launches $1 billion masala bond issue
TNN | Updated: Oct 20, 2018, 11:23 IST
NEW DELHI: IFC, a World Bank Group arm, has launched a $1-billion masala bond programme to finance its rapidly expanding investment activities in India.
The first tranche of $100 million, which opened on Thursday night on the LSE, was sold to a range of investors, including asset managers, banks, and a pension fund, in the US and Europe, IFC said in a statement.
Masala bonds are rupee-denominated borrowings issued overseas. IFC uses the tool to raise resources overseas, and brings the proceeds to India for investments. The government has taken a series of steps to support masala bonds.
The first tranche of $100 million, which opened on Thursday night on the LSE, was sold to a range of investors, including asset managers, banks, and a pension fund, in the US and Europe, IFC said in a statement.
Masala bonds are rupee-denominated borrowings issued overseas. IFC uses the tool to raise resources overseas, and brings the proceeds to India for investments. The government has taken a series of steps to support masala bonds.
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