Canada’s British Columbia becomes first foreign government to issue masala bonds

Posted on:05 Sep 2016 09:18:43

Canada’s British Columbia becomes first foreign government to issue masala bonds
05 September 2016 Current Affairs: Canada’s British Columbia province has become the first foreign government to issue of masala bonds, a rupee-denominated bond. It had issued Rs 500 crore rupee denominated overseas bonds (masala bond) on the London Stock Exchange (LSE) and successfully raised $75 million (about Rs 500 crore). 

British Columbia’s issued masala bond was priced to yield 6.62 % to semi-annually with a three-year tenor in the LSE. By issuing masala bond, it has secured high-quality investor support from across Europe, Asia and America.

Masala Bonds are rupee-denominated bonds issued to overseas buyers. It is aimed at boosting investments into India’s infrastructure sector. British Columbia by issuing the masala bond has well-positioned confidence of investors outlook for India’s infrastructure sector. Thus, it signifies major participation of the rupee in the international markets and highlights prosperous and favourable conditions of Indian economy.


Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs August 2017

17 AUGUST
NEWS
16 AUGUST
NEWS
14 AUGUST
NEWS
12 AUGUST
NEWS

Current Affairs July 2017

31 JULY
NEWS
29 JULY
NEWS
28 JULY
NEWS
27 JULY
NEWS

Current Affairs June 2017

30 JUNE
NEWS
29 JUNE
NEWS
28 JUNE
NEWS
27 JUNE
NEWS