India INX press release-RECL lists its first global notes of USD 700 million with India INX
Mumbai, November 13, 2018: REC Limited today listed its first global notes comprising both Reg-S and 144A tranche on India INX’s Global Securities Market, India’s leading primary market platform for raising funds from global investors. The 5 year bond has an annual yield of 5.25 per cent maturing on November 13th, 2023.
Welcoming RECL’s issue, India INX MD and CEO Shri. V. Balasubramaniam mentioned, “We congratulate RECL on their first global bond issuance under the USD 5 Bn Global MTN Programme. The success of both the 144A and Reg S tranche is attestation of the strong global investor interest in building exposure to India’s growing power sector.
As India INX, we are happy to offer a platform to more and more Indian issuers to tap global investors through our robust and transparent platform.”
The Global Securities Market platform of India INX offers fund raising guidelines at par with other international venues. Since launch of Global Securities Market in January 2018, it has emerged as the largest listing platform for bonds at GIFT IFSC. Till date total of USD 36 Billion in MTN program has been established.
About India INX
As India’s first international exchange, India INX has pioneered several firsts at GIFT IFSC since launch in January 2017. India INX is the first exchange to introduce a single platform across multi-assets i.e. equities, commodities, currencies and interest rate derivatives. India INX is also the first exchange in India to launch Gold Options. To address the requirements for Indian and foreign issuers to raise debt from global investors, India INX has been the first to set up a primary market platform, the Global Securities Market. India INX’s clearing arm, the India International Clearing Corporation (IFSC) Limited (India ICC) is the first to offer international market participants an ability to settle trades seamlessly through ICSDs (International Central Securities Depositories). This has been enabled through Clearstream, which also facilitates accepting foreign securities as collateral. India INX derivatives trading turnover has crossed USD 130+ billion as on date.
