NEW DELHI: Indian Railway Finance Corporation Limited (IRFC), the dedicated market borrowing arm of the Indian Railways, has mobilized Rs. 2,500 crore through issue of bonds for tenor of 10 years through private placement at a competitive rate of 7.69% p.a. The aforesaid issuance had base issue of Rs. 500 crore with green shoe option of Rs. 2,000 crore
IRFC’s issue of Unsecured Redeemable Non-Convertible Bonds made on October 10, 2022 (Monday) received an overwhelming response across all investor segments spread across banks, pension funds, insurance companies, mutual funds and other financial institutions.
The issue was over-subscribed with overall subscription aggregating to around Rs. 7,000 crore. The proceeds of bond issue shall be utilized by the Company for meeting funding requirements of Indian Railways. The current issue also had two other options for 3 and 5 year tenor. However, the company did not accept any amount for these tenors.
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