ZBA and Allen & Overy advised Indian Railway Finance Corporation (IRFC) when it recently raised US$750 million through a foreign currency bond issue. Cyril Amarchand Mangaldas and Linklaters advised the six arrangers and dealers to the issue.
The bond issue was IRFC’s first debt market issue since its US$630 million IPO on 29 January. It was priced on 3 February and carries a coupon of 2.8% per annum. The bonds were issued on 10 February.
ZBA’s team comprised partner Niloufer Lam, and associates Anuttam Mahapatra and Mihir Shukla. CAM’s team was led by partner Gokul Rajan, and included principal associate Anjaneya Das and associate Aniran Ghoshal. Linklaters’ team was led by partner Amit Singh.
The 10-year bonds were issued under the corporation’s recently updated US$4 billion global medium-term note programme, and are listed on the Singapore stock exchange, and on the international exchanges of the BSE, India-INX, and on the international securities market of the London Stock Exchange.
The bonds represent direct, senior, unconditional, unsubordinated and unsecured obligations of Indian Railway Finance Corporation.
