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IRFC invites bids for Rs7 bn of bonds

IRFC invites bids for Rs7 bn of bonds
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First Published: Tue, Jan 13 2009. 04 19 PM IST
Updated: Tue, Jan 13 2009. 04 19 PM IST
Mumbai: Indian Railway Finance Corp (IRFC), a state-run funding agency, has invited bids for at least Rs7 billion of bonds, two sources, including a company official, said on Tuesday.
The company will issue 5-year, 10-year and 15-year bonds and bidding will close at noon on Wednesday. IRFC had on 7 January postponed its Rs7-billion bond issue, as bond yields rose after government announced a higher-than-expected borrowing plan.
“The terms are the same as the previous issue (on 7 January). How long can we wait? We have to go ahead with our plans though the market is volatile,” the IRFC official said.
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First Published: Tue, Jan 13 2009. 04 19 PM IST
More Topics: IRFC | Bonds | Money | India | Money Matters |