EXIM Bank raises $10 bn through bonds on LSE
The Dollar Business Bureau The Export Import Bank of India (EXIM Bank), the premier export finance institution in the country, has raised $10 billion via issuance of 10-year dollar bonds on London Stock Exchange (LSE). The bonds were oversubscribed by almost two times. The EXIM Bank will use the proceeds from bonds for supporting Indian project exports, foreign investments through long-term credit and its portfolio of lines of credit. “The notes achieved the tightest ever spread over US Treasury for an Indian entity for a 10-year issuance,” said LSE in a statement. The 10-year bond has an annual yield of 3.897% and protected high investor support from all over the world, it said. EXIM Bank Managing Director David Rasquinha said that the Bank is a ...
India looking for global investors in infrastructure: LSE CEO
The Dollar Business Bureau With a huge demand for investment in the infrastructure, India is looking for investors globally and London would prove to be natural destination, said Nikhil Rathi, Chief Executive Officer, London Stock Exchange (LSE). “So, India is a fastest growing economy in G-20, growing at 7% a year. There is huge demand for infrastructure investment in India, and it is going global and looking for global investors and London is proving to be natural place for it,” Rathi said. The LSE witnessed the listing of Rs.7,000 crore worth of bonds on Thursday and Friday. India’s Road Transport Minister Nitin Gadkari has launched NHAI bonds worth Rs.5,000 crore on Thursday. Piyush Goyal, Power, Coal and Renewable Energy Minister, has launched the trading of papers on Friday worth Rs.2,000 crore from NTPC ...
Jaitley opens London Stock Exchange in a special ceremony
The Dollar Business Bureau In a special ceremony, Arun Jaitley Minister of Finance of India opened the London Stock Exchange (LSE) and and later had a discussion with the investors on the role of UK in developing the fin-tech ecosystem of India and in delivering priorities forits development. The event was attended by Liam Fox, Minister for International Trade of UK. After the ceremony, Nikhil Rathi, CEO of LSE, hosted a roundtable session with Arun Jaitley, representatives from FICCI (Federation of Indian Chambers of Commerce & Industry), fin-tech firms and major investors. “They discussed London's significant role as a partner to India, supporting the country to develop its fin-tech ecosystem and deliver key Indian priorities like infrastructure development, sustainable energy investment and the growth of smart cities,” according ...
Vedanta trims opex, capex in Q2; says mkt outlook challenging
Source: PTI Vedanta Resources on Friday said it has reduced capital and operating expenditures in the July- September quarter as the mining conglomerate tries to tackle volatile market conditions as well as subdued metal prices globally. Billionaire Anil Agarwal-led mining giant said market conditions are expected to remain “challenging in the short term”. Presenting its production figures for the second quarter of 2015-16, Vedanta Resources Group CEO Tom Albanese said: “We are continuing to drive efficiency improvements and optimise opex and capex across the business. “While the near-term market outlook is challenging, we believe we have the right mix of commodities to benefit from future demand in India and globally.” He added however that the Group's diversified asset portfolio has delivered ...
