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Govt to raise a major chunk of foreign borrowing via 30-year bonds

Finance Minister Nirmala Sitharaman announced that India was looking to raise around $10 billion via overseas foreign currency sovereign bonds in the current fiscal year

Reuters  |  New Delhi 

sovereign bond

The Indian government plans to issue a significant portion of its proposed sovereign overseas borrowing via 30-year paper, a senior government official who did not wish to be identified said on Thursday.

The government has met several foreign bankers over last two weeks and sees appetite for long-term sovereign bonds, the official said adding the bonds will likely be issued in tenors of 10 years and above.

Finance Minister announced that India was looking to raise around $10 billion via overseas foreign currency in the current fiscal year, in a first-ever such issuance.

First Published: Thu, July 25 2019. 11:38 IST
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