Thursday, October 15, 2015

External Commercial Borrowings (ECB) Policy - Issuance of Rupee denominated bonds overseas

The broad contours of the framework are as follows:

  • Eligible borrowers: Any corporate or body corporate as well as Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs).
  • Recognised investors: Any investor from a Financial Action Task Force (FATF) compliant jurisdiction.
  • Maturity: Minimum maturity period of 5 years.
  • All-in-cost: All in cost should be commensurate with prevailing market conditions.
  • Amount: As per extant ECB policy.
  • End-uses: No end-use restrictions except for a negative list.

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