Loan & Debt22 May 2026, 08:51 pm
IRFC Raises $1.1 Billion via ECB for FY27
AI Summary
Indian Railway Finance Corporation (IRFC) has secured a JPY-equivalent USD 1.1 billion External Commercial Borrowing (ECB) loan. The agreement, signed on May 21, 2026, involves a consortium of lenders including State Bank of India, HDFC Bank Ltd, Sumitomo Mitsui Banking Corporation (GIFT City Branch), and DBS Bank Ltd. This marks IRFC's first ECB in FY 2026-27. The 5-year tenor loan is benchmarked to the Tokyo Overnight Average Rate (TONAR), and the proceeds will finance projects.
Key Highlights
- IRFC raises JPY-equivalent USD 1.1 billion via ECB loan.
- Loan agreement signed with SBI, HDFC Bank, Sumitomo Mitsui, and DBS Bank.
- ECB has a 5-year tenor and is benchmarked to TONAR.
- Proceeds to be utilized for financing projects.
- This is IRFC's first ECB in FY 2026-27.
Price Impact
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