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.
- 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.