Investment25 Feb 2026, 05:22 pm
IRFC raises JPY-equivalent USD 400 Million ECB, marks second ECB in FY 2025-26
AI Summary
Indian Railway Finance Corporation (IRFC) has signed a loan agreement with the consortium of Sumitomo Mitsui Banking Corporation GIFT City Branch and MUFG Bank Ltd Gift Branch in New Delhi for raising External Commercial Borrowing loan of JPY equivalent USD 400 million. This is the second ECB being raised by IRFC during this FY after it successfully raised JPY equivalent USD 300 million in December 2025. The proceeds from this facility shall be utilised towards financing projects having forward or backward linkage with the railway sector or any other project as may be approved by the Company in compliance with the ECB Guidelines.
Key Highlights
- IRFC raises JPY-equivalent USD 400 Million ECB, marks second ECB in FY 2025-26
- Loan agreement signed with Sumitomo Mitsui Banking Corporation GIFT City Branch and MUFG Bank Ltd Gift Branch
- ECB raised for a 5-year tenor and benchmarked to Overnight TONAR (Tokyo Overnight Average Rate)
- Proceeds to be used for financing projects with railway sector linkage or other approved projects
- This is the second ECB raised by IRFC in the FY 2025-26