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Issuance of Rupee denominated bonds overseas

FEMA - 47 - Dated:- 7-6-2017 - RBI/2016-17/316 A. P. (DIR Series) Circular No.47 June 7, 2017 To All Authorised Dealer Category - I Banks Madam/Sir Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to Sr. No. 3, 4 and 5 o .....

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3.2, 3.3.1, 3.3.3 and 3.3.4 of Master Direction No.5 dated January 1, 2016 on External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers (Master Direction), .....

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elements of the ECB framework, it has been decided that any proposal of borrowing by eligible Indian entities by issuance of these bonds will be examined at the Foreign Exchange Department, Central Office, Mumbai. Further, it has also been decided t .....

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per financial year should be 3 years and for bonds raised above USD 50 million equivalent in INR per financial year should be 5 years. ii. All-in-cost ceiling: The all-in-cost ceiling for such bonds will be 300 basis points over the prevailing yield .....

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