India's Exim Bank to raise INR10bn from Samurai bond market.
Global Banking News-November 27, 2014--India's Exim Bank to raise INR10bn from Samurai bond market
(C)2014 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 27 November 2014
The Export-Import Bank of India (Exim Bank) has issued 10-year bonds in the Japanese bond market (Samurai bonds) for JPY20bn (about USD170m or INR10bn), the Hindu Business Line has reported.
Japan Bank for International Cooperation's (JBIC) guarantee will cover the principal and part of the interest of the privately placed Samurai bonds. The bond was priced at 0.97 percent (YSO+27 bps) for 10 years. The guarantee was extended under JBIC's Guarantee and Acquisition towards Tokyo Market Enhancement (GATE) facility.
Daiwa Securities (TYO: 8601) (FRA: 8601), Mitsubishi UFJ Morgan Stanley Securities, Mizuho Securities (NYSE: MFG) (TYO: 8411) (8411.BE) and SMBC Nikko Securities were the joint lead arrangers to the issue, Exim Bank said. The proceeds of the Samurai bonds will be used by Exim Bank to fund Indian project exports to Sri Lanka for financing railway projects in Sri Lanka.
Samurai bonds are yen-denominated bonds issued by a foreign government or company in the Tokyo bond market.
[Editorial queries for this story should be sent to email@example.com]
((Distributed via M2 Communications - http://www.m2.com))