Indian Railway Finance Corp Raises USD 500 Mn With 10-year Green Bond

Indian Railway Finance Corp Raises USD 500 Mn With 10-year Green Bond

Indian Railway Finance Corporation Limited (IRFC) has successfully raised USD 500 million which is a 10-year green bond from investors in Asia, Europe and Middle-East and offshore US.

The corporation received order for more than USD 1.6 billion with 99 investors consisting of very high quality accounts.

It is the corporation’s inaugural foray into the green bond market with this. S K Pattanayak, MD, IRFC said, “. This was IRFC’s return to the international bond markets since February 2014, so investors were very keen to gain exposure to a rare high-quality credit from India. The issue has been oversubscribed by 3x times and managed to achieve a very strong price compression. The successful completion of the deal underscores investor’s confidence in IRFC.” Read More…

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