Listng of IRFC’s USD 500mn Green Bond

Listng of IRFC’s USD 500mn Green Bond

India International Exchange listed the first bond issuance of IRFC’s USD 500 mn Green Bond on its Global Securities Market with Honourable Minister of Railways and Coal, Shri Piyush Goyal ringing the gong. The bonds issued by IRFC are one of the highest credit rated bonds issued by an Indian corporate and has been IRFC’s first foray into the Green Bond market.

Marking the occasion, Shri Piyush Goyal, Minister of Railways and Coal said, “India is the fastest growing economy in the world and our need to raise funds is a continuous process. To have a platform to tap global investors by issuing bonds in any currency is the first of its kind in India and India INX as India’s first international exchange at IFSC Gift city, Gandhinagar has yet again been a pioneer in this. In a country like ours, this will make global investors and funds more accessible to Indian and foreign issuers at a fraction of cost that is being incurred today by issuers. India INX has now made it a reality for investors to invest in quality papers from India with a disclosure regime that is at par with the best globally.”

For IRFC, this is the first international fund raising with commitment to use the proceeds for Green use. Certified as part of the Climate Bonds Initiative (CBI), the Green Bond framework formulated by IRFC has also been verified by KPMG. The bonds placed at 3.835% bears a semi-annual coupon for the next 10 years.

Shri B.N. Mohapatra, Chairman, IRFC on the occasion of listing on India INX said “IRFC is one of the largest NBFCs in India and we support a new India dream of building huge capacities and we are in process of augmenting our fund base accordingly. This is our first green bond issue and we hope to do more in future. We are excited to be the first issuer to list on BSE’s India International Exchange (India INX). Such a listing platform from India INX will now help us to tap global investors from India going forward.”

Shri S. K. Pattanayak, Managing Director, IRFC on the occasion of listing of its Green bond on India INX said “IRFC is the first issuer to list its Green Bond on BSE’s India International Exchange (India INX). This listing platform from India INX enables us to now tap global investors for fund raising of IRFC and is at par with international exchanges like LSE and SGX. Our IRFC green bond is a commitment to sustainable development and we look forward to serving the financial needs of India’s rail transport infrastructure and would be in a position to raise more funds as and when required.”

BSE’s India International Exchange welcomed listing of Indian Railway Finance Corporation (IRFC)’s 10 year USD 500Mn Green Bond on its Global Securities Market, India’s first capital raising platform for international investors in any currency, located at the Gujarat International Finance Tec City IFSC.

/ IRFC Updates