UK welcome first London sale of rupee bond from Indian private company

August 1, 2016 7:39 AM

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LONDON Aug 1 British finance minister Philip Hammond welcomed the issuance on Monday of the first offshore rupee-denominated bond from a private company, saying it highlighted London's status as a leading global finance centre.

The three-year bond, from Indian bank Household Development Finance Corporation, raised 30 billion rupees ($450 million) at a yield of 8.33 percent and was more than four times oversubscribed, Britain's finance ministry said.

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