It is among the first bonds to list on a new International securities Market on the LSE
India’s state-run NTPC is among the first bonds to list on a new International Securities Market (ISM) on the London Stock Exchange (LSE).
The NTPC masala bond is available for trading this week on ISM following the publication of its rulebook last week by the Minister of state for power, coal and renewable energy Piyush Goyal.
“I am pleased that India’s NTPC is one of the first companies to list their recent Masala Bond on London Stock Exchange’s innovative new debt market. London has been a long-term partner for Indian firms looking to raise finance in the global capital markets and the development of an additional platform for the listing and trading of fixed income should be welcomed,” Goyal said.
The ISM is an additional market for the issuance and trading of UK and international primary debt targeted at institutional and professional investors.
“London Stock Exchange is delighted to announce that its new International Securities Market is now live and welcomes the first bonds to begin trading on the platform,” said Nikhil Rathi, CEO of London Stock Exchange.
“The International Securities Market will provide UK and international fixed income issuers an additional efficient London listing venue, giving them access to the City’s deep pool of global capital and an international investor base,” he said.
“In particular, we are honoured to welcome the support of Shri Piyush Goyal, India’s Minister of State for Power, Coal and Renewable Energy, for our new market. London Stock Exchange is the global home for masala bonds raising over 5 billion dollars for supranational, municipal and private company institutions on its markets,” he added.(read more)