Investment30 Jul 2025, 06:51 pm
IRFC Secures USD 300 Million ECB from Sumitomo Mitsui Banking Corporation
AI Summary
Indian Railway Finance Corporation Limited (IRFC) has issued a Letter of Award (LOA) for an External Commercial Borrowing (ECB) of JPY equivalent USD 300 million. The ECB, with a tenor of 5 years and bullet repayment along with semi-annual interest payment, will be availed from Sumitomo Mitsui Banking Corporation (SMBC), GIFT City Branch, GIFT SEZ, Gift City, Gandhinagar, Gujarat, India. The net proceeds from the ECB will be utilized in accordance with the ECB Regulations of the Reserve Bank of India (RBI).
Key Highlights
- IRFC has been awarded a USD 300 million ECB by Sumitomo Mitsui Banking Corporation (SMBC)
- The ECB has a tenor of 5 years with bullet repayment and semi-annual interest payment
- The proceeds from the ECB will be used as per the RBI's ECB Regulations
- The ECB will be availed from SMBC's GIFT City Branch in Gift City, Gandhinagar, Gujarat, India
- This investment signifies IRFC's strategic financial planning and growth