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ITNL Offshore Pte Ltd, a wholly-owned subsidiary of IL&FS Transportation Networks , has raised $900 million in offshore Chinese yuan ($1 = 6.5157 offshore yuan) through placement of senior unsecured notes maturing in 2021, IL&FS said in an exchange filing on Thursday. The notes carry an annualised yield of 8 per cent and the company has completed the allocation to investors. The notes will be listed on the Singapore Stock Exchange and the proceeds from the issue will be used to refinance existing bonds. Shares of IL&FS Transportation closed with a gain of 4.37 per cent at ₹93.15 on the NSE.
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