EXIM Bank raises $1 bn via 10-year bonds

Government-owned export credit agency Export-Import Bank of India, has raised $1 billion through 10-year bonds. The proceeds will be used to finance project exports and foreign investments. Initially, the issue size was pegged at for $500 million but changed to $1 bn based on strong demand from the investors. The issue attracted an order book of $2.50 billion, achieving 2.5 times the subscription, said in a statement. David Rasquinha, deputy managing director, said the bond was very well received by investors despite tightening 22.5 basis points from the initial guidance.