IIFCL to get new $1.2 bn credit line from Asian Development Bank
- Congress backs Priyanka Gandhi as she hits out at opposition for 'targeting Robert Vadra without proof'
- Elections 2014 LIVE: Mulayam Singh files nomination from Azamgarh; Third FIR against Giriraj Singh
- Would prefer to go to Pakistan than stop criticising Narendra Modi: Omar Abdullah
- IPL spot fixing: Do you want to probe charges against Srinivasan? SC asks Justice Mudgal panel
- IPL 7 Live Cricket Score, KXIP vs SRH: SRH field first, Pathan comes in for Ishant
India Infrastructure Finance Company Limited (IIFCL) has negotiated a second line of credit of $1.2 billion from Asian Development Bank for spending in various sectors, chairman and managing director of the state-owned company S K Goel said.
"We have negotiated a new credit line of USD 1.2 billion from ADB," Goel told reporters on the launch of the lender's tax-free bond issue here.
IIFCL had earlier secured an RBI line of credit from the foreign exchange reserves of UD 5 billion out of which USD 1 billion had been already consumed.
"We will again request the RBI to extend the line of credit once the validity of the existing one expires on March, 2015," he said.
On the tax-free bond issue, which opened today, Goel said the offering had received extremely good response. The company collected Rs 80 crore in the first hour, he added.
The company is entering the market to raise Rs 1,500 crore with a green shoe option upto the shelf limit of Rs 9215 crore.
The government allowed IIFCL to Rs 10,000 crore through issue of tax-free bonds out of which Rs 785 crore had been already raised through private placement.
The tax-free bond issue closes on January 11.
Mutual Funds Check for top funds
- Five months after gruesome ATM attack, accused still at large
- Ex-syndicate member of Bangalore University held in marks-for-cash scam
- Accused get bail as police fail to file chargesheet
- ‘Naxals collected info on trucks carrying explosives from Khadki to Ahmednagar’
- A tale of two villages: Ramayan and Mahabharat
- UP CM tears into Modi bastion on first visit to Gujarat, says Third Front ready