The proceeds from the rupee-linked bonds will be used to finance private sector investments in the country. The exchange rate risk on the bonds is to be borne by investors, said the media report. "IFC is committed to supporting the government of India in deepening the country's capital markets," IFC vice-president and treasurer , Jingdong Hua, said.
He added the rupee bond would help attract other foreign investors to the offshore rupee market and provide an alternative source of rupee funding for investment in the country. Besides, the bond is IFC's first rupee offering. It is the first bond issued under IFC's $1-billion offshore rupee bond programme, said IFC.
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