London Stock Exchange invites Pinarayi to masala bond launch on May 17
Monday 8 April 2019 1:18 AM UTC
THIRUVANANTHAPURAM April 8: The masala bond collected via Kerala Infrastructure Investment Fund Board (KIIFB) for the infrastructure development of the state has attained a rare achievement. The London stock exchange has decided to release the shares in the market at a public function.
Chief Minister Pinarayi Vijayan has been invited for the function in London. This is the first time a Chief Minister is getting an invitation from the London Stock Exchange.
The CM who will travel to Geneva on April 14, will attend the function on the return journey on May 17. This news came amidst the allegations that CDPQ that bought 20 percent of the company’s shares is having links with Lavalin.
The Chief Minister will ring the bell at the London Stock Exchange which will be followed with the bond presentation. Masala bonds are bonds issued outside India but denominated in Indian Rupees, rather than the local currency.
The term was used by the International Finance Corporation (IFC) to evoke the culture and cuisine of India.
China’s People’s Bank of China has previously issued yuan-denominated bonds (Dim Sum Bonds) to raise funds at a little over 3%. Japan had also floated yen-denominated bonds called as Samurai.