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Market Borrowing Arm Of Indian Railways Sees Profit Rise By Nearly 16 Per Cent To Rs 2934 crore

Market Borrowing Arm Of Indian Railways Sees Profit Rise By Nearly 16 Per Cent To Rs 2934 crore by Arun Kumar Das - Feb 15, 2021 04:54 AM Train passing by (Flickr) Snapshot The company has been able to raise funds at the most competitive rates and terms both from the domestic and overseas financial markets which has helped to keep its cost of borrowing low. Indian Railway Finance Corporation Limited, the dedicated market borrowing arm of the Indian Railways, has posted profit growth of 15.65 per cent to Rs 2934 crore for the quarter ended 31 December, 2020. The company has reported a net profit of Rs 2,537 crore for the corresponding nine months in the previous year.

IRFC issues $750 million bonds at a fixed rate of 2 80% after listing

IRFC sells $750 million bonds at 2.80% after listing The bonds will be issued on 10 February, 2021 for a tenor of 10 years at a fixed rate of 2.80%. (Ramesh Pathania/Mint) Share Via Read Full Story Indian Railway Finance Corporation (IRFC) today said it has sold USD 750 million worth of dollar-denominated bonds to overseas investors priced at a coupon of just 2.80% per annum. This is the maiden debt market activity that Railways financing arm has done since going public on January 29 after the biggest IPO of the fiscal collecting ₹4,633 crore through a public issue. It was subscribed 3.49 times during January 18-20. TRENDING STORIESSee All

IRFC issues USD 750,000,000 bonds at a fixed rate of 2 80 pc

IRFC issues USD 750,000,000 bonds at a fixed rate of 2.80 pc Mumbai, Feb 4 (UNI) Indian Railway Finance Corporation Limited (IRFC) the dedicated market borrowing arm of the Indian Railways on February 3, 2021 priced its USD 750,000,000 bonds based on a Rule 144A / Regulation S offering format under IRFC s recently updated USD 4 billion global medium term note programme. The bonds will be issued on February 10,2021 for a tenor of 10 years at a fixed rate of 2.80 pc. The bonds carry semi-annual interest payment and bullet principal repayment. Commenting on the issuance, Shri Amitabh Banerjee, Chairman and Managing Director, IRFC, said, IRFC is a well-known name in the foreign bond issuance. The amount is a part of our USD 4 billion global term note programme. We will be looking to raise the rest of the amount by the end of this fiscal. Our credit ratings are similar to the sovereign rating of the country which help us in getting competitive rates with suitable tenors.

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