Indian Railway Finance Corp Raised USD 500 Mn From Offshore Investors

In an major diversification into the green bond market, Indian Railway Finance Corporation Limited (IRFC) announced that it has successfully raised 500 million US dollars through 10-year green bond from investors in Asia, Europe and Middle East and United States.

Proceeds of the bond will be used to finance the eligible Green Projects under Dedicated Freight Railway Lines and Public Passenger Transport.

The green bonds have been certificated by the Climate Bond Initiative (CBI), while the 'Green Bond Framework', formulated by IRFC, has been verified by KPMG.

The 10-year benchmark has a semi-annual coupon of 3.835 per cent per annum and its maturity date is December 13, 2027.