Money & Banking

Exim Bank lists billion-dollar 10-year bond on AFRINEX

Our Bureau Mumbai | Updated on October 27, 2021

Marks the Indian bank’s maiden foreign currency bond on the Mauritius-based pan-African exchange

Export-Import Bank of India has listed its $1-billion 10-year bond on the Mauritius-based pan-African exchange AFRINEX.

Pravind Kumar Jugnauth, Prime Minister of the Republic of Mauritius, K Nandini Singla, High Commissioner of India to Mauritius, and Harsha Bangari, Managing Director, Export-Import Bank of India, rang the digital bell on AFRINEX to mark the listing of Exim Bank’s bond.

Exim Bank’s 10-year bond, issued in January 2021 at a coupon of 2.25 per cent, was the bank’s fourth transaction in the 144A/Reg S format.

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“This listing (on October 25, 2021) is India Exim Bank’s maiden foreign currency bond bell ringing on AFRINEX,” the bank said in a statement.

Exim Bank’s bonds are also listed on Singapore Exchange Securities Trading, London Stock Exchange’s International Securities Market, and India International Exchange (IFSC).

Bangari said AFRINEX will serve as a gateway for broadening the investor base of issuers in the African continent, along with that of the world.

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AFRINEX is an initiative by the Government of Mauritius to set up a pan-Africa exchange and become an international financial centre, Exim Bank said. The initiative is supported by the Government of India. BSE Technologies Ltd is the technology and skill partner of the exchange.

Published on October 27, 2021

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