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Export-Import Bank of India to raise up to US$1.5B via bond issuance

Export-ImportBank of India plans to raise up to US$1.5 billion by issuing bondsin the overseas market in the current fiscal year, the Press Trust of India reportedSept. 25, citing the bank's chairman and managing director, Yaduvendra Mathur.

The size and timing of the issuance has yet to be decidedand will depend on market conditions, Mathur said. He noted that the banktypically needs to raise between US$2 billion and US$2.5 billion in an averagefiscal year. The lender already raised US$1 billion in July via long-termcredit and its line of credit portfolio.

Export-Import Bank of India also plans to open an exportfacilitation portal by mid-October with an aim to promote exports by smallunits.