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The Asian Development Bank has raised approx USD 169 million (around Rs.1,100 crore) via rupee-linked bonds.
According to the Bank, “Proceeds from the bonds will be mobilized to support ADB lending in India.” The bonds which are denominated in Indian rupees but settled in US dollars, were underwritten by Citibank and TD Securities.
Further it stated, “”The transaction was structured as a tap issue into ADB’s 10-year bond originally issued in October 2016, raising the outstanding amount to USD 308 million – the largest local currency bond issued to date by ADB for on-lending purposes in the same currency.”
