IRFC lists $1 billion medium-term notes on India INX

The BSE-owned India International Exchange (India INX) yesterday (Monday, 17th February 2020), said it has listed two tranches of Indian Railway Finance Corporation’s (IRFC) medium-term notes worth $1 billion on its debt listing platform.

In the first tranche, bonds worth $700 million will be issued at a coupon rate of 3.249 per cent due in 2030 while the second tranche consists of bonds worth $300 million at 3.95 coupon rate due in 2050, India INX said in a release.

The issue is part of IRFC’s $2-billion Global Medium Term Note Programme, it added. India INX is the country’s first debt listing platform that allows raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.

Since the launch of the global securities market, medium-term notes worth over $46.5 billion and bonds worth over $21.1 billion have been listed on the platform so far, India INX said. India INX is India’s first international exchange set up at the Gujarat International Finance Tech-City.