NE BUSINESS BUREAU
MUMBAI, MAY 20
The Rural Electrification Corporation Limited (RECL), State-owned Public Infrastructure Finance Company on Wednesday listed US $500 million issuances of overseas bonds at 4.75 percent due in 2023 under its recently updated US $7 billion Global Medium-Term Note Programme on India INX’s Global Securities Market (GSM), GIFT IFSCs leading primary market platform for raising funds from global investors, an India INX release said.
Commenting on the listing, V. Balasubramaniam, MD and CEO, INDIA INX said, “We are extremely delighted that REC has successfully listed bonds worth USD 500 Million on India INX. We are the first Indian issuer to do so amidst the COVID lockdown. We congratulate the REC team and all the intermediaries involved in this.”
Since the launch of Global Securities Market, it has been the leading listing platform for bonds at GIFT IFSC. The Global Securities Market platform of India INX offers fundraising guidelines at par with other international venues. MTNs established on India INX platform since launch in Jan 2018 aggregate to US $48.5+ billion and listing of bonds aggregate to US $21.8+ billion. India INX is also the first introducer of Green Securities Platform for issuance of green bonds.
