London Lands 30 Billion Rupee “Masala Bond”

hdfc uk india

India’s first offshore rupee-denominated bond was listed on the London Stock Exchange today. The investment – known as a “masala” bond – was issued by India’s largest bank HDFC, whose chairman Deepak Parekh praised London’s “wide range of financial instruments” and “unshakable trust from international investors.”

“While we did explore other markets for listing, the responsiveness and efficiency with which the officials at the UKLA and London Stock Exchange responded to our urgent requirements was remarkable.”

HDFC’s decision to place the 30 billion rupee / £341 million bond on the British market was preceded by the Chinese government earlier this year, who issued the first ever Yuan bond outside of China (worth £300 million) in May. Last week, the German stock exchange (Deutsche Börse) voted overwhelmingly in favour of merging with the London Stock Exchange, hoping to make it the world’s largest market. Both India and China are listed within the top 20 GDP growth rates in the world, and form part of Guido’s post-Brexit trade map. It cements London’s place as the financial capital of the world – Paris and Frankfurt didn’t have a hope. Even the arch-Remainiacs over at Bloomberg are grudgingly admitting it’s good post-Brexit news…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Dominic Cummings says a second referendum would smash the party system…

“… the logical corollary will be to morph into a new party and fight the next election ‘to implement the promises we made in the referendum because the MPs have proved they can’t be trusted’. “

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Who Can Beat Corbyn? Who Can Beat Corbyn?
READ: Number 10’s Chequers Slides For MPs READ: Number 10’s Chequers Slides For MPs
Brexiteer Andrea Jenkyns Receives Extreme Abuse Brexiteer Andrea Jenkyns Receives Extreme Abuse
Undead UKIP Poll Rise Terrifies Tories Undead UKIP Poll Rise Terrifies Tories
Marr’s May Monopoly Marr’s May Monopoly
CCHQ Begs Association Chairmen CCHQ Begs Association Chairmen
Poll: Voters 2 to 1 for No Deal Poll: Voters 2 to 1 for No Deal
Tory MP Puts Letter In to Brady Tory MP Puts Letter In to Brady
Poll: May’s Deal or No Deal? Poll: May’s Deal or No Deal?
Tories Will Lose Votes if They Cross Brexit Red Lines Tories Will Lose Votes if They Cross Brexit Red Lines