IFC's bond issue successful; over-subscribed twice

The International Finance Corporation's first tranche of USD 1 billion rupee linked bond issue has been successful. The first tranche of the 3-year bonds, amounting to USD 161 million was over subscribed two times.

In an exclusive conversation with CNBC-TV18's Aakansha Sethi, Karin Finkelston, VP - Asia Pacific, at IFC says the over-subscription of the rupee linked bond shows, that the investors have a lot of confidence in the Indian currency.
IFC will now figure out if they can stretch the tenders out which would again demonstrate confidence. “At the same time we want to come onshore. Issue an onshore long-term bond and then see if we can use that money productively for infrastructure and other projects,” says Finkelston.