Non-public sector lender IndusInd Financial institution Tuesday mentioned it has raised USD 400 million (round Rs 2,700 crore) in its first-ever US greenback bond issuance within the offshore public markets.
The financial institution raised USD 400 million at a coupon charge of three.875 per cent each year, payable semi-annually, IndusInd Financial institution mentioned in a launch.
The notes, to be listed on the Singapore SGX and the India INX, Present Metropolis, carry a closing score of Baa3 from Moody’s.
“The profitable issuance demonstrates the robust credit score high quality of IndusInd Financial institution and traders’ affinity in the direction of the financial institution,” it mentioned.
The financial institution has created a profitable benchmark for itself in offshore capital markets by its debut issuance.
“IndusInd Financial institution has made a profitable debut within the offshore bond markets by a benchmark 3-year issuance. This offers the financial institution not solely an vital supply of funds diversification, but in addition an enhanced functionality to assist the expansion aspirations of our Indian purchasers which can be increasing within the area and globally,” Romesh Sobti, managing director and chief government officer, IndusInd Financial institution, mentioned.
BofA Merrill Lynch, Barclays, Citigroup, CLSA, HSBC (B&D), JPMorgan and Commonplace Chartered Financial institution acted as joint guide runners and joint lead managers for the providing.