IFC, the private finance arm of the World Bank, has launched a $1 billion (Rs. 6,100 crore) offshore rupee bond program, which would help in strengthening India’s capital markets and attract greater foreign investment..Amarchand Mangaldas is advising IFC with a team led by Mumbai Managing Partner Cyril Shroff along with Debt Capital Markets Partner Niloufer Lam..The Amarchand Mangaldas spokesperson confirmed that the firm is acting for IFC but declined to comment further..Under the program, said to be the largest of its kind in the offshore rupee market, the IFC will issue rupee-linked bonds and use the proceeds to finance private sector investment in the country, reports ET.
IFC, the private finance arm of the World Bank, has launched a $1 billion (Rs. 6,100 crore) offshore rupee bond program, which would help in strengthening India’s capital markets and attract greater foreign investment..Amarchand Mangaldas is advising IFC with a team led by Mumbai Managing Partner Cyril Shroff along with Debt Capital Markets Partner Niloufer Lam..The Amarchand Mangaldas spokesperson confirmed that the firm is acting for IFC but declined to comment further..Under the program, said to be the largest of its kind in the offshore rupee market, the IFC will issue rupee-linked bonds and use the proceeds to finance private sector investment in the country, reports ET.