IDFC FIRST Bank's Maiden USD 500 Million Bond Issue

 IDFC FIRST Bank's Maiden USD 500 Million Bond Issue

Category: Economy / Banking / International Finance

• IDFC FIRST Bank completed its first USD 500 million bond issuance.
• The issue was made through its IFSC Banking Unit (IBU) at GIFT City, Gujarat.
• This marked the bank's entry into the global debt capital markets.
• Bonds:
  • Tenure: 3 years
  • Maturity: 2029
  • Coupon: 5.625%
  • Format: Regulation S
  • Rating: BBB-, Stable Outlook, by S&P Global Ratings.
• Interest is payable semi-annually.

UPSC Focus: GIFT City, IFSC, international bonds, Regulation S, global capital markets.