Kerala became the first state to tap into masala bond market by listing the Kerala Infrastructure Investment Fund Board (KIIFB)’s masala bond worth of USD 312 million (Rs 2,150 crore) in London Stock Exchange (LSE)’s International Securities Market (ISM).
It has a fixed interest rate of 9.723% per annum. The bond issue builds on the Kerala government’s focus to get multinational corporations to invest in the state.
Source: Indian Express
Static/Current Takeaways Important for LIC AAO Exam:
- Kerala CM: Pinarayi Vijayan, Governor: P. Sathasivam.