Categories: Business

ADB raises $118 million from rupee-linked bonds

The Asian Development Bank (ADB) has raised Rs 850 crore (USD 118 million) from a new issue of offshore Indian rupee-linked 10-year bonds. This represents ADB’s first new maturity raised in Indian rupees since 2017 and contributes to an established yield curve which stretches from 2021 through 2030 with Rs 7,240 crore (USD 1 billion) of outstanding bonds. ADB’s India rupee bonds have been a “game-changer” for local currency operations.

The bonds bear a semi-annual coupon of 6.15 per cent and priced to yield 6.19 per cent. The bonds, which are denominated in Indian rupees, but settled in US dollars, were underwritten by JP Morgan and primarily distributed to investors in the Americas (21 per cent) and Europe (79 per cent).

Important takeaways for all competitive exams:

Formation of ADB: 19 December 1966.
Headquarters of ADB: Manila, Philippines.
Membership of ADB: 68 countries.
President of ADB: Masatsugu Asakawa.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.