<p class="bodytext">The Export Import Bank of India has raised $10 billion with a bond issuance on the London Stock Exchange (LSE).</p>.<p class="bodytext">The 10-year dollar bonds were nearly two times oversubscribed. The proceeds raised will be used by the EXIM Bank to support Indian project exports, overseas investment by way of long-term credit and its lines of credit portfolio.</p>.<p class="bodytext">"The notes achieved the tightest ever spread over the US Treasury for an Indian entity for a 10-year issuance," LSE said in a statement. </p>.<p class="bodytext">The bond has a 3.897% annual yield, and secured high investor support from across the world, the exchange said.</p>.<p class="bodytext">EXIM Bank Managing Director David Rasquinha said that the institution is a regular issuer in the international debt capital markets and has a largely dollarised loan book.</p>.<p class="bodytext">He said, "This was our second foray to the 144 A market as part of our constant endeavour to further strengthen and foster long term relationships with global investors."</p>.<p class="bodytext">"Through a well-designed and finely executed marketing strategy, we achieved the tightest ever 10-year US treasury spread by an Indian issuer, while simultaneously attracting top quality investors in the order book. Through this issuance, the EXIM Bank has yet again created a liquid benchmark 10-year curve out of India," he added.</p>.<p class="bodytext">EXIM Bank becomes the year's largest quasi-sovereign issuance from Asia in the international debt capital markets.</p>
<p class="bodytext">The Export Import Bank of India has raised $10 billion with a bond issuance on the London Stock Exchange (LSE).</p>.<p class="bodytext">The 10-year dollar bonds were nearly two times oversubscribed. The proceeds raised will be used by the EXIM Bank to support Indian project exports, overseas investment by way of long-term credit and its lines of credit portfolio.</p>.<p class="bodytext">"The notes achieved the tightest ever spread over the US Treasury for an Indian entity for a 10-year issuance," LSE said in a statement. </p>.<p class="bodytext">The bond has a 3.897% annual yield, and secured high investor support from across the world, the exchange said.</p>.<p class="bodytext">EXIM Bank Managing Director David Rasquinha said that the institution is a regular issuer in the international debt capital markets and has a largely dollarised loan book.</p>.<p class="bodytext">He said, "This was our second foray to the 144 A market as part of our constant endeavour to further strengthen and foster long term relationships with global investors."</p>.<p class="bodytext">"Through a well-designed and finely executed marketing strategy, we achieved the tightest ever 10-year US treasury spread by an Indian issuer, while simultaneously attracting top quality investors in the order book. Through this issuance, the EXIM Bank has yet again created a liquid benchmark 10-year curve out of India," he added.</p>.<p class="bodytext">EXIM Bank becomes the year's largest quasi-sovereign issuance from Asia in the international debt capital markets.</p>