Indian Railway Finance Corporation Bonds 2010
Indian Railway Finance Corporation Bonds 2010
Indian Railway Finance Corp. plans to build a total 10 billion rupees ($216 million) marketing bonds growing in 2015, 2017 and 2020, data hoarded by Bloomberg show. The sale is organized by banks considering Axis Bank Ltd., HSBC Holdings Plc, ICICI Bank Ltd. and Standard Chartered Plc. The finance ministry on Monday sanctioned issue of bonds by railways worth Rs 5,000 crore for the financial year ending March 31, 2010.
The bonds will be published by Indian Railway Finance Corporation (IRFC), which will be tax-free, secured, referable and non-transformable, containing an interest rate in the range of 6.5% to 7.25% per annum. The bonds will be useable in the form of public issue.