Money & Banking

Exim Bank plans $1-b bond raising in offshore markets in January-March

K.R.Srivats New Delhi | Updated on December 12, 2019 Published on December 12, 2019

Exim Bank of India plans to raise at least $1 billion in the overseas market during January-March 2020, a top official said.

“We will most likely go in for a RegS/144 A market offering,” David Rasquinha, Managing Director, Exim Bank told BusinessLine.

He was responding to a question on whether the next overseas fund raising will be in the Samurai bond market.

A RegS status means the bonds need not be registered with the US Securities and Exchange Commission. On the other hand, Rule 144A enables bonds to still be sold to institutional investors (qualified institutional buyers) in the US.

It may be recalled that Exim Bank had in August raised 32 million yen via Samurai bonds. Basically, samurai bonds are yen-denominated bonds issued by foreign governments, agencies or companies in the Japan market.

So far this year, Exim Bank has already raised close to $1 billion, Rasquinha said.

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Published on December 12, 2019
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