You are here

India's Masala bond makes its debut on SGX

Monday, September 19, 2016 - 16:21

13_25813735 - 15_10_2012 -  forex16.jpg

SINGAPORE Exchange (SGX) welcomed the inaugural listing of rupee-denominated or Masala bonds issued by one of India's largest mortgage lenders, Indiabulls Housing Finance Ltd (IBHFL), on Monday.

IBHFL raised 13.3 billion rupees (S$271 million) from its first Masala bonds, which have a tenor of three years. The bond was priced at 8.567 per cent and attracted close to 70 per cent participation from investors in Asia.

The company will invest the proceeds in its housing-finance business, particularly loans in the affordable-housing segment.

More than 80 per cent of listed offshore bonds by Indian issuers are listed on SGX, having raised US$66 billion, SGX said in a statement.

Market voices on:

Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at

Powered by GET.comGetCom