Masala Bonds

The Enforcement Directorate (ED) has said that former state Finance Minister T M Thomas Isaac was not cooperating with the probe into the financial transactions of the Kerala Infrastructure Investment Fund Board (KIIFB). In an affidavit submitted by the ED before the Kerala High Court on Saturday, the agency said Isaac was making baseless allegations against the agency. It said Isaac was trying to stay away from the probe and stall the investigation. The ED is probing the issuance of Masala Bonds by KIIFB which had later informed the court that permission for the issuance of the financial instruments were obtained from the Reserve Bank of India. The probe agency had earlier issued multiple notices summoning Isaac to appear before it. Isaac had also moved the High Court against the ED. It said Isaac was trying to stay away from the investigation, making baseless allegations against the ED and was trying to flee from the jurisdiction of the central agency and stall the probe. The E

The Enforcement Directorate, investigating the Masala bonds case involving former Kerala Finance Minister Thomas Isaac, on Saturday told the High Court that he is running away from the probe.

Considered a brainchild of the then finance minister, masala bonds have backfired against the Pinarayi Vijayan government

Microfinance lender CreditAccess Grameen on Wednesday said its board has approved a proposal to raise up to Rs 5k crore through debt securities and an additional $7.4 million by issuing masala bonds.

NSE International Exchange (NSE IFSC) on Friday said it has listed HDFC Bank's additional masala bonds on its debt securities market platform. NSE IFSC is a wholly-owned subsidiary of the National Stock Exchange (NSE). The private lender's additional Tier 1 (AT1) masala bonds got listed on the debt securities market platform. "HDFC Bank has raised Rs 739 crores under USD 3 Billion Medium Term Note Programme," NSE IFSC said in a release. Since the launch of NSE IFSC Debt Securities Market (DSM), it has listed total aggregate medium-term notes worth over USD 31 billion and listed bonds worth more than USD 17 billion, it added. This also includes USD 1.75 billion worth of green and sustainable bonds. NSE IFSC launched DSM for listing and trading of debt securities in multiple foreign currency bonds, green bonds, masala bonds, notes, among others, on March 16, 2018.

HDFC Bank on Thursday said it has raised Rs 739 crore by issuing the rupee-denominated masala bonds in the overseas markets

State-run power giant NTPC has made an offer to buy back its masala bonds worth Rs 4,000 crore from bondholders or lenders

Rs 500 cr may look very small, but the importance becomes clear when it is found that since March, companies had not issued a single Masala bond abroad

ADB's masala bonds are listed on both Luxembourg exchange and India INX

Cholamandalam Investment and Finance Company was the only company to have floated masala bonds overseas

The fund is raised through 10-year Rupee Denominated Masala Bonds

The company has already initiated the approval process with Reserve Bank for the early redemption of the masala bonds

KIIFB had registered for issuance before the March 31 deadline, data from the RBI shows

The rupee has gained 5.2 per cent since the end of September against the dollar

First tranche opens on LSE; Centre, RBI had taken steps to promote such bonds to shore up rupee value

Also, removing withholding tax of 5 per cent for bonds issued this year can see some more than usual issuances, but a flurry of issuance is unlikely

IL&FS Transportation Networks, part of the IL&FS Group, today said its board has given nod for issuance of masala bonds worth up to Rs 2,000 crore besides USD-denominated bonds of up to USD 500 million. "We wish to inform that at the meeting of the board of directors held today, an in-principle approval was granted for issuance of ...masala bonds up to Rs 2,000 crore" and "rated secured USD denominated bonds upto USD 500 million," IL&FS Transportation said in a regulatory filing to the BSE. The proceeds of the issue will be primarily used to repay high interest bearing short-term debt by a security with a lower interest cost having long-term maturity, it said. IL&FS Transportation in 2016 had raised USD 50 million through a maiden masala bonds sale to the Export Development Canada (EDC).

Indian companies raised Rs 33,165 crore through the masala bonds route till April

Masala bonds are catching up fast as a source of raising fund from overseas markets

Latest four bonds to provide financing to expand India's highway and rail networks and boost energy efficiency and renewable energy