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International Finance Corporation (IFC) has raised $100 million or about Rs 600 crore through IFC maharaja bonds from international and domestic investors. The bonds will be listed on the NSE.
There are four tranches with different maturities under the same issuance. The issue comprises a 5-year bullet bond of 25 million, a 10-year bullet bond of 25 million and two separately tradeable redeemable principal parts with maturity of between 13 and 20 years.
The bond proceeds will be used for infrastructure investment in India. This is the first international AAA issuance in India. HSBC, ICICI securities and SBI Caps were lead arrangers to the issue.
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