<p class="title">Masala bonds issued by the Kerala Infrastructure Investment Fund Board (KIIFB) have been listed at the London Stock Exchange on Friday.</p>.<p class="bodytext">According to a statement from Kerala chief minister's office, Chief Minister Pinarayi Vijayan formally opened the listing by ringing the bells at the London Stock Exchange.</p>.<p class="bodytext">The KIIFB, an agency under the Kerala government, aims to pool Rs 2,500 crore in the initial phase for investing in Kerala's infrastructure development.</p>.<p class="bodytext">Masala bonds, which are denominated in Indian rupees with the borrower taking the risk of exchange rates, would be listed at the Singapore stock exchange too.</p>.<p class="bodytext">Pinarayi is the first chief minister to be invited by the London Stock Exchange for such a ceremony. The masala bonds would have a five-year cap and an interest of 9.723%.</p>.<p class="bodytext">The Opposition party in Kerala, the Congress, has alleged corruption in the masala bonds.</p>.<p class="bodytext">Opposition leader Ramesh Chennithala expressed fear that there was a risk of masala bonds leading the state to a debt trap.</p>.<p class="bodytext">He was also suspicious over the investments by CDPQ, a Canadian pension fund firm having links with the Canadian firm SNC Lavalin, which is said to be blacklisted.</p>.<p class="bodytext">More than a decade ago, Pinarayi was accused in a corruption case pertaining to SNC Lavalin's contract with the state on power projects— Pinarayi was then the <span>power minister.</span></p>
<p class="title">Masala bonds issued by the Kerala Infrastructure Investment Fund Board (KIIFB) have been listed at the London Stock Exchange on Friday.</p>.<p class="bodytext">According to a statement from Kerala chief minister's office, Chief Minister Pinarayi Vijayan formally opened the listing by ringing the bells at the London Stock Exchange.</p>.<p class="bodytext">The KIIFB, an agency under the Kerala government, aims to pool Rs 2,500 crore in the initial phase for investing in Kerala's infrastructure development.</p>.<p class="bodytext">Masala bonds, which are denominated in Indian rupees with the borrower taking the risk of exchange rates, would be listed at the Singapore stock exchange too.</p>.<p class="bodytext">Pinarayi is the first chief minister to be invited by the London Stock Exchange for such a ceremony. The masala bonds would have a five-year cap and an interest of 9.723%.</p>.<p class="bodytext">The Opposition party in Kerala, the Congress, has alleged corruption in the masala bonds.</p>.<p class="bodytext">Opposition leader Ramesh Chennithala expressed fear that there was a risk of masala bonds leading the state to a debt trap.</p>.<p class="bodytext">He was also suspicious over the investments by CDPQ, a Canadian pension fund firm having links with the Canadian firm SNC Lavalin, which is said to be blacklisted.</p>.<p class="bodytext">More than a decade ago, Pinarayi was accused in a corruption case pertaining to SNC Lavalin's contract with the state on power projects— Pinarayi was then the <span>power minister.</span></p>