Mumbai, Global Securities Market, India’s leading primary market platform for raising funds from global investors, today welcomed REC Ltd. for establishing its USD 5 billion Global Medium-Term-Note (GMTN) program. Talking about it, India INX MD and CEO Shri. V. Balasubramaniam mentioned, “We are excited to welcome REC Ltd’s Global MTN programme update and become the first international exchange to establish it. This takes the total MTN programme establishment in this year itself to approx. USD 36 billion making it one of fastest growing segment within our exchange. We are very positive that with the recent announcement of waiver in Withholding Tax for masala bonds, we expect more issuers to tap the global bond market in the near term and India INX will continue to be the most preferred listing platform for issuers.”
Since, India INX inaugurated Global Securities Market for listing bonds in January 2018, it has emerged as the largest listing platform for bonds at GIFT IFSC. MTNs established on the platform aggregate has touched USD 35.8 billion and bond issuances of USD 6.27 billion. Other notable issuers on India INX’s Global Securities Market include NTPC, IRFC, EXIM Bank, NHAI, SBI and Yes Bank.