IRFC prices USD 750,000,000 bonds

Indian Railway Finance Corporation Limited (the "Issuer" or "IRFC") had on 3rd February, 2021 priced its USD 750,000,000 bonds based on a Rule 144A / Regulation S offering format under IRFC's recently updated USD 4 billion global medium term note programme. The bonds will be issued on 10th February, 2021 for a tenor of 10 years at a fixed rate of 2.80%. The bonds carry semi-annual interest payment and bullet principal repayment.

The net proceeds from the issuance of these bonds will be utilized in accordance with the external commercial borrowing regulations of the Reserve Bank of India.

The bonds represent direct, senior, unconditional, unsubordinated and unsecured obligations of the Issuer and will rank pari passu without any preference among themselves and at least equally with all other unsecured and unsubordinated obligations of the Issuer from time to time outstanding. The bonds will be listed on the Singapore Exchange Securities Trading Limited, India International Exchange (IFSC) Limited and International Securities Market of the London Stock Exchange.

Source : Equity Bulls

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