Exim Bank raises nearly Rs.6700 cr in single largest tranche abroad
The Dollar Business Bureau The Exim bank of India has raised $1 billion (nearly Rs.6,700 crores) by selling 10 year bonds to overseas investors. Though the bank had initially intended to raise $500 million (around Rs.3350 crore), seeing the strong demand from the investors, the issue was increased to $1 billion, Exim Bank revealed in a statement. This is the bank’s first transaction in the Regulation S and 144A rule format of the US. The issue attracted an excess of $2.50 billion (nearly Rs.16,632 crores) from over 157 eager investors. The bank officials said that this was the largest issuance and the largest single tranche issuance that the Bank has experienced from overseas investors in 2016. The Regulation S of US is a safe ...
Indias external debt increased by 6.6% in last fiscal
The Dollar Business Bureau India’s external debt has gone up to $475.8 billion during the last financial year, an increase of 6.6% (29.5 billion) over $446.3 billion since the previous year. The rise was a result of increased commercial borrowings and NRI deposits. According to the Status Report 2014-15 on external debt released by the Ministry of Finance, India’s long-term borrowing from overseas grew at 10.3% to $391.1 billion during 2014-15. The long-term external debt contributed 82.2% of the total foreign debt in FY2015, compared to 79.5% in FY2014. “India’s external debt has remained within manageable limits as indicated by the external debt-GDP ratio of 23.8% during 2014-15. External debt of the country continues to be dominated by the long-term borrowings,” said ...
