Exim Bank India raises USD 1 billion from overseas

New Delhi, Jan 7 (PTI) Exim Bank of India has raised USD 1 billion (about Rs 8,570 crore) from overseas at lowest ever spread to fund business growth, the Department of Financial Services said on Tuesday.
     "Fantastic start to the year by Indian issuers in global capital markets, with state-owned @IndiaEximBank raising $1 bn 10-year USD-denominated bonds at lowest ever spread (100bps) for USD-denominated public bond by a BBB-rated issuer in Asia," the Department of Financial Services (DFS) said in a post on X
     This demonstrates the confidence of overseas investors in the India story, it said, adding, this landmark transaction marks a strong start to the year for Indian issuers in the international debt markets, supporting Exim Bank's mandate and contributing to the vision of Viksit Bharat.
     Exim Bank provides financial assistance to exporters and importers, and functions as the principal financial institution for coordinating the working of institutions engaged in financing export and import of goods and services with a view to promoting the country's international trade.

(This story has not been edited by THE WEEK and is auto-generated from PTI)