ONGC lists USD 300 million MTN emissions in India INX
New Delhi, December 6 () The India International Exchange (India INX), owned by BSE, said Friday that it has included in its debt trading platform the issuance of medium-term promissory notes of USD 300 million of state-owned NGOs .
The main theme is part of the NGO medium-term notes program (MTN) to raise up to USD 2 billion in loans abroad through debt instruments.
Program notes were issued at a coupon rate of 3,375 percent due in 2029, according to the statement.
India INX is the first debt listing platform in the country to raise funds in any currency chosen by foreign and Indian issuers of investors from around the world.
We are happy to be part of India INX at IFSC, GIFT City to list the first USD 300 million NGO issue ... which offers the opportunity to reach international investors to raise funds in similar ways in other international markets as well as providing a Single window for reporting compliance, said ONGC president and managing director, Shashi Shanker, in a statement.
Since the launch of the global stock market, so far medium term notes worth USD 47 billion and bonds worth USD 17.9 billion have been included in the platform, India INX said. India INX is India's first international exchange established at Gujarat International Finance Tech-City (GIFT City). SRS BAL BAL