Exim Bank lends $35.26 mn loan to Kalpataru Power Transmission
The bank said it had earlier supported constructing a 225kV transmission line for Tambacounda - Kolda - Ziguinchor link in Senega.
India’s Export Import (Exim) Bank on Tuesday raised $1 billion via an overseas bond sale offering just 2.25 per cent for the ten-year money, setting a new low in pricing.
As per managing director David Rasquinha, the issue was oversubscribed over 3.5 times and in Asia when the issue was launched the bonds were oversold within two hours.
“The coupon of 2.25 per cent is a record low for any 10-year bond issuance out of the country till date,” he added.
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The raised funds will be used to support project exports, overseas investment by way of long-term credit and its export lines of credit portfolio.
The Exim Bank, with a substantially dollarised balance sheet, is one of the largest domestic issuers of long-term debt in the international debt capital markets and its paper is treated as quasi-sovereign.
In December 2020, Exim Bank and Small Industries Development Bank of India announced that the two are jointly planning to set up an Alternative Investment Fund (AIF). This will provide equity and loan support to small and medium enterprises.
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