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Friday, 12 May 2017

Nitin Gadkari launches NHAI's Masala Bond in UK


Union Minister of Road Transport and Highways Nitin Gadkari launched the National Highways Authority of India (NHAI) Masala Bond at the London Stock Exchange, UK. The NHAI witnessed an overwhelming response from a wide range of investors, some of them were first-timers to participate in a Masala Bond market.

The initially benchmarked issue of Rs. 1,500 crore was upsized to Rs. 3,000 crore at a price yielding 7.30 percent annually in view of the highly positive response from the investor market. The transaction marks the largest ever in the five-year issuance and the largest inaugural transaction in Masala Bond market. 

    Important Takeaways from above News for SBI PO Exam-
    • The rupee-denominated offshore bonds are popularly known as Masala Bonds
    • The instrument has been exempted from taxation for transfer among non-residents while a low rate of five percent would be applicable for investors till 2020
    • Capital of UK is London and its currency is Pound Sterling
    • Theresa May is the PM of UK.

    Source- The Hindu

     If you have any other takeaways, do share with us in the comment section



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