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Indian Railway Finance to raise 10B rupees via capital gains bonds

Indian Railway Finance Corp. Ltd. is looking to raise up to 10 billion Indian rupees via an offering of capital gains bonds, the Press Trust of India reported Dec. 24, citing Managing Director S.K. Pattanayak.

The 5 billion-rupee offering carries an oversubscription option of up to another 5 billion rupees. The bonds have a lock-in period of three years and will yield 5.25% per year, payable every Oct. 15.

As of Dec. 25, US$1 was equivalent to 64.05 Indian rupees.