IndianOil’s foreign currency bonds list on NSE’s international exchange

Our Bureau New Delhi | Updated on September 02, 2021

Company sees it as a step towards accessing offshore funds within India

NSE International Exchange (NSE IFSC) on Thursday announced the listing of IndianOil’s foreign currency bonds on its debt securities market platform.

NSE IFSC is a subsidiary of the National Stock Exchange.

Sandeep Kumar Gupta, Director — Finance, IndianOil, said the company’s foreign currency bonds of $1.4 billion and Singapore $400 million have been listed on NSE IFSC and India INX exchanges. “The advent of IFSC at Gift City has provided an opportunity for Indian companies to access offshore funds within India, and we believe that today’s listing of our bonds is a step in that direction,” he added.

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Since its launch, the NSE IFSC debt securities market has listed medium-term notes worth over $22 billion and issues aggregating to about $14.12 billion (including about $800 million green bonds).

Manoj Kumar, Executive Director, IFSC, said: “We are enhancing the global competitiveness of IFSC by developing a sustainable finance ecosystem and innovative product offerings. We are committed to providing a vibrant financial services ecosystem to attract foreign investment to make Gift IFSC a global financial hub.”

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Ravi Varanasi, President, NSE Group, said: “The setting up of international financial services centres in India offers a wide range of products to raise funds in various currencies, and this is the first time an issuer is listing Singapore dollar denominated currency bonds in NSE IFSC.”

NSE IFSC Ltd launched a debt securities market on March 16, 2018, for the listing and trading of debt securities in multiple foreign currency bonds, green bonds, masala bonds, notes, and so on.

Published on September 02, 2021

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