International Finance Corp. (IFC), a part of the World Bank group, has issued a third tranche of Rs 300 crore in three-year bonds at 7.75%, reflecting strong investor demand.
The sale, a part of IFC's $1 billion global rupee bond programme, will have an outstanding of Rs 2,300 crore of issuance after this issue, IFC said in a statement on Monday.
Investors in the bonds were asset managers and insurance companies in the United States and Europe, as per the release.
The global bond issue by IFC is seen as a significant step towards liberalisation of the partially-convertible rupee.
