IFC’s largest rupee bond issue

IFC, an arm of the World Bank Group, has issued a five-year global rupee bond with an aim to raise ₹2,000 crore, making it the largest ever offshore rupee bond issuance till date. The rupee bond carries a yield of 7.8 per cent. Reflecting strong foreign investor interest in such bonds, the order book for the latest offering reached close to ₹2,500 crore, according to IFC. “IFC’s five-year global rupee bond comes to market at a time when foreign investors are seeing renewed opportunity in India’s capital markets,” IFC Vice-President and Treasurer Jingdong Hua said.