Kerala becomes the First State into the Masala Bond market

Published on May 21, 2019
Kerala became the first state to tap into the Masala Bond market by listing the Kerala Infrastructure Investment Fund Board's (KIIFB's) Masala Bond worth USD 312 million (Rs 2,150 crore) in London Stock Exchange's (LSE's) International Securities Market (ISM).
Kerala becomes the First State into the Masala Bond market

Details:

  • The Masala Bond has a tenor of 5-year and a 9.723% coupon.
  • Kerala's state finance minister Thomas Issac executed this move.
  • The main objective of this initiative was to tap the masala bond market and to rebuild the infrastructure in Kerala from the proceeds of the masala bond.

Question:

Q. Which state became the first state to tap into the Masala Bond market by listing a Masala Bond in London Stock Exchange's (LSE's) International Securities Market (ISM)?
a. Tamil Nadu
b. Kerala
c. Gujarat
d. Andhra Pradesh

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