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Fullerton India said it has priced the 37-month issue at fixed annual coupon of 8.12 per cent.
"This is a landmark transaction and enables Fullerton India to tap and develop a new source of funding. The issue matches our asset profile and finances our future growth plans," Fullerton India Credit Company managing director Shantanu Mitra said in a statement.
The company said it will use the proceeds for on-lending and other financing activities. It also said the issue will be listed on the Singapore Stock Exchange.
Swiss brokerage Credit Suisse, which was the advisor to the deal, said the masala bond product remains attractive given the deep pool of liquidity available for borrowers.
Masala bonds are rupee-denominated debt instruments issued by domestic entities in overseas capital markets to raise specific fund requirements and bond investors bear the currency risk.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)