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The Export-Import Bank of India has raised $750 million by issuing 10 year Reg S bonds to funds it operations including extending lines of credit to the Governments of other countries, export finance and support Indian companies overseas investments. The resources were raised at a fixed coupon of 4 per cent (or 10-year US Treasury plus 220 basis points), said David Rasquinha, Executive Director.
“The original issue size was $500 million. But seeing the investor interest, we upscaled it to $750 million. The order book touched $6.50 billion.” Rajiv Nayar, Head of Capital Markets Origination at Citi India said: “Exim Bank’s inaugural 10-year US dollar bond marks the first such issuance from India this year. “It was priced inside their existing USD notes due 2017, representing a negative new issue concession.”
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