NE BUSINESS BUREAU
MUMBAI, JAN 16
Export Import Bank of India (EXIM Bank) raised US $1 Billion in ten year money under its US $10-billion medium-term note programme established on the Global Securities Market (GSM) of India International Exchange at GIFT IFSC, an India INX release said.
David Rasquinha, Managing Director of Exim Bank and Harsha Bangari, Chief General Manager & Chief Financial Officer of Exim Bank rang the bell on India INX celebrating what is one of the largest single tranche issue since February 2018 by any Indian issuer, at lowest ever coupon of 3.25% p.a. The issue was oversubscribed with total order book touching US $2.7 Bn.
Commenting on the success, V. Balasubramaniam, MD and CEO, INDIA INX said, “We congratulate EXIM on the many firsts they have achieved in this issuance even during periods of heightened rate volatility. We are immensely glad to onboard the instruments on our Global Securities Market platform and thank EXIM for reposing trust in our exchange. India INX is pleased to list the highest single tranche issuance at the beginning of the year 2020 and this reaffirms our belief that India INX and the GIFT City have become a promising International Financial Services Centre venue and destination.”
Speaking on the occasion, David Rasquinha, Managing Director of Exim Bank said “Exim Bank is one of the consistent issuers out of India in international markets, considering that Exim Bank’s balance sheet is predominantly USD denominated. Exim Bank is also proud that it is cumulatively the largest bond issuer listed on India INX. With a successful US $1 bn issuance Exim Bank continues to look forward to strengthening the relationship with Indian INX for its future issuances”
Harsha Bangari, Chief General Manager & Chief Financial Officer of Exim Bank said “This is a proud moment for Exim Bank as we mark today’s ceremony for listing of Exim Bank’s recent 144A/Reg S issuance of US $1 billion on the India INX platform and look forward to strengthening our association with India INX”
The listing ceremony for the $1-billion issue was held on the 16th of January 2020 at BSE’s International Conventional Hall. It was presided by David Rasquinha, Managing Director of Exim Bank in the presence of V. Balasubramaniam, MD & CEO, INDIA INX. EXIM had already listed US$5.6 Billion bonds under its US$10 Billion Medium-term note programme on India INX.
