ADB's Indian landmark

Assistant treasurer and head of funding, Juan Limandibrata, discusses supranational''s foray into the rupee bond market.

The ADB broke new ground last week when it became the first foreign issuer to tap India's domestic bond market. The triple-A rated credit priced a Rp5 billion $110 million transaction via the HSBCI and ICICI. The 10-year bullet deal was priced at par with a coupon of 5.4% to yield 17bp over the government yield curve. Here assistant treasurer, Juan Limandibrata, explains the rationale for the issue and the supranational's funding strategy for 2004.

How did this deal come about

Limandibrata It's been in process for quite some time. We started discussions with the Indian government back in 2002, but it's been well worth all the hard work we've...

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