IRFC to raise External Commercial Borrowing loan of JPY equivalent USD 300 million
Indian Railway Finance corporation (IRFC) on 2nd December, 2025 signed a loan agreement with Sumitomo Mitsui Banking corporation GIFT city Branch at Gift city in Gandhinagar, Gujarat for raising External Commercial Borrowing loan of JPY equivalent USD 300 million.
New Delhi: Indian Railway Finance corporation (IRFC) on 2nd December, 2025 signed a loan agreement with Sumitomo Mitsui Banking corporation GIFT city Branch at Gift city in Gandhinagar, Gujarat for raising External Commercial Borrowing loan of JPY equivalent USD 300 million.
With this, the IRFC has entered first time in the ECB market after its diversification move in infrastructure space having backward / forward linkage.
The loan agreement was signed in presence of Ms, Deepa Kotnis, Executive Director (Finance), IRFC at Gift City in Gandhinagar, Gujarat between Ms. Rakhi Dua, Senior General Manager (Finance), IRFC and Mr. Manoj Kaushik, Executive Director, SMBC.
Senior officials from IRFC's ECB team Mr. Nav Goel (General Manager Finance) and Mr. Dhruv Taparia (Deputy Manager Finance) were also present on this momentous occasion.
The ECB, being raised for JPY equivalent USD 300 million has been tied up for a 5-year tenor and benchmarked to Overnight TONAR (Tokyo Overnight Average Rate).
The proceeds from this facility shall be utilised towards financing projects having forward or backward linkage with the railway sector or any other project as may be approved by the Company in compliance with the ECB Guidelines.