FCEBs: A new way to borrow overseas

By Shardul Thacker,Mulla & Mulla & Craigie Blunt & Caroe
0
1103

Indian corporations can raise foreign currency debt either by commercial loans from non-resident lenders through the external commercial borrowings (ECBs) route, or by issuing foreign currency convertible bonds (FCCBs), convertible into equity shares of the issuing company, for subscription by non-residents.

With a view to providing corporations with an additional window for overseas borrowing, the Reserve Bank of India (RBI) has put into operation a scheme for the issuance of foreign currency exchangeable bonds (FCEBs).

Issuing and subscribing

FCEBs are bonds expressed in foreign currency, the principal and interest in respect of which are also payable in foreign currency.

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章,欢迎成为我们的订阅会员成为我们的订阅会员

Shardul Thacker is a partner with Mulla & Mulla & Craigie Blunt & Caroe in Mumbai.

mulla__mulla_new_logo

Mulla & Mulla & Craigie Blunt & Caroe

Mulla House, 51 MG Road

Fort, Mumbai 400 001

India

Tel: +91 22 2204 4960, 2262 3191

Fax: +91 22 2204 0246, 6634 5497

Email: info@mullaandmulla.com