Power Finance Corporation lists $750 million MTN issue on India INX

Published: January 27, 2020 5:38:28 PM

India INX is the country's first debt listing platform that allows raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.

The notes under the programme have been issued at a coupon rate of 3.95 per cent. (Representative image)The notes under the programme have been issued at a coupon rate of 3.95 per cent.
(Representative image)

By PTI

BSE-owned India International Exchange (India INX) on Monday said it has listed state-owned Power Finance Corporation Ltd’s global notes worth USD 750 million on its debt listing platform.

The maiden issue is part of the company’s global medium term note (MTN) programme to raise up to USD 5 billion in overseas borrowings through debt-instrument, the release said.

The notes under the programme have been issued at a coupon rate of 3.95 per cent.

“The growing volumes of listing on India INX further helps Government of India’s vision of making IFSC a hub for Indian and global issuers and investors and reiterates our world class listing practice,” said MD and CEO of India INX V. Balasubramaniam.

India INX is the country’s first debt listing platform that allows raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.

Since the launch of global securities market, medium-term notes worth USD 46.5 billion and bonds worth USD 20.1 billion have been listed on the platform so far, it added.

India INX is India’s first International Exchange set up at Gujarat International Finance Tech-City (GIFT City).

In a separate media release, Central Depository Services Ltd (CDSL) said it has so far opened over 2 crore demat accounts.

CDSL is currently the largest depository in the country in terms of active demat accounts and currently accounts for 67 per cent of the new accounts added in 2019-20, it added.

“CDSL became the first depository to open its branch in IFSC, GIFT City and continuing with many firsts, CDSL has now become the first Depository to reach the milestone of 2 crore active demat accounts,” Nehal Vora, MD and CEO of CDSL said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Budget 2020: How MSMEs, startups can drive inclusive economic growth by digitization
2Air India privatisation: Employee unions to meet in Delhi after govt announces 100 per cent stake sale
3Amazon employees criticise online retail giant on climate despite risk to jobs