The International Finance Corporation (IFC), private finance arm of the World Bank, is set to raise $2 billion in a bumper onshore Rupee bond sale.
- It is the first onshore offer of such magnitude by an international blue chip entity
- It is a vote of confidence in Indian Economy and will help deepen and internationalize India’s corporate bond market. This top-rated offering is expected to boost interest in India’s debt market and help draw long-term funds from the insurance and pension sectors.
- Money raised will likely be used to fund private energy and infrastructure projects, of critical importance as India needs to boost energy supplies and improve facilities in order to create the right environment for growth and take full advantage of economic expansion. IFC has held discussions with Reserve Bank of India (RBI) and finance ministry officials on the proposed issue.
India’s long term growth prospects are intact. Several midcap, small-cap, and infrastructure stocks have fallen in price recently, offering excellent opportunity to long term mutual fund investors.
Resource by:- http://goo.gl/s0sKD1