New Delhi, Jan 27 (IANS) State-owned Power Finance Corporation Limited (PFC) on Monday listed its global notes on India INX’s Global Securities Market (GSM), GIFT IFSCs leading primary market platform for raising funds from global investors.
The listings are of $750 million worth bonds at 3.950 per cent due under $5 billion Global Medium Term Note Programme.
“We congratulate PFC on their largest single tranche global bond issuance under the USD 5 billion Global MTN Programme which is a testimony of the positive global view on India’s growing power sector. The growing volumes of listing on India INX further helps Government of India’s vision of making IFSC a hub for Indian and global issuers & investors and reiterates our world class listing practice,” India INX MD and CEO V. Balasubramaniam said.
Since launch of Global Securities Market, it has been the leading listing platform for bonds at GIFT IFSC. The Global Securities Market platform of India INX offers fund raising guidelines at par with other international venues. MTNs established on India INX platform since launch in January 2018 aggregate to $46.5 billion and listing of bonds more than $20.1 billion. India INX is also the first introducer of Green Securities Platform for issuance of green bonds.
As India’s first international exchange, India INX has several firsts at GIFT IFSC since launch in January 2017. India INX is the first exchange to introduce a single platform across multi-assets i.e. equities, commodities and currencies derivatives. India INX is also the first exchange in India to launch Gold Options and has recently commenced derivatives trading in base metals viz. – Aluminium, Lead, Nickel and Zinc.
To address the requirements for Indian and foreign issuers to raise debt from global investors, India INX has been the first to set up a primary market platform, the Global Securities Market. India INX’s clearing arm, the India International Clearing Corporation (IFSC) Limited (India ICC) is the first to offer international market participants an ability to settle trades seamlessly through ICSDs (International Central Securities Depositories). This has been enabled through Clearstream, which also facilitates accepting foreign securities as collateral. India INX derivatives trading turnover has crossed $697 billion as on date.