IDFC FIRST Bank raises $500mn thru maiden global bonds
IDFC FIRST Bank raises $500mn thru maiden global bonds The issuance marks the bank's first international bond offering and strengthens its access to global debt capital markets.
IDFC FIRST Bank raises $500mn thru maiden global bonds The issuance marks the bank's first international bond offering and strengthens its access to global debt capital markets.
Article outline
- What happened
- The key numbers
- The bottom line
Key points
- The three-year fixed-rate senior notes, due in 2029, carry a coupon of 5.625% and were issued to investors outside the United States under Regulation S, the bank remarked.
- IDFC FIRST Bank Ltd has raised $500 million through its IFSC Banking Unit at GIFT City, marking the lender's entry into the international debt capital markets.
- The transaction attracted solid participation from global institutional investors, including BlackRock, Capital Group and AllianceBernstein, among others.
- This inaugural transaction is a landmark milestone for us.
Meanwhile, the three-year fixed-rate senior notes, due in 2029, carry a coupon of 5.625% and were issued to investors outside the United States under Regulation S, the bank remarked. The issuance marks the bank's first international bond offering and strengthens its access to global debt capital markets.
For context, the transaction attracted solid participation from global institutional investors, including BlackRock, Capital Group and AllianceBernstein, among others.
"This inaugural transaction is a landmark milestone for us. We are delighted to see solid participation from some of the world's leading institutional investors in our maiden international bond issuance, " Sudhanshu Jain, Chief Financial Officer and Head, Corporate Centre, IDFC FIRST Bank, stated.
For now, IDFC FIRST Bank raises $500mn thru maiden global bonds remains the part of the story worth watching, and further updates are likely as more details are confirmed.
