Canada’s British Columbia becomes first foreign government to issue masala bonds
Free Current Affairs to Your Email
Posted on:05 Sep 2016 09:18:43
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.
FreshersLive - No.1 Job site in India. Here you can find latest 2017 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail.