India's EXIM Bank to raise $300 million in dollar bonds under RBI hedging facility

The issuance signals deepening foreign investor appetite for Indian sovereign-linked debt as the central bank's currency-risk framework lowers barriers for offshore capital.

By Handelsavisen Newsroom · Automated 2026-07-20 12:09 UTC · 1 min read

The Export-Import Bank of India is preparing to raise $300 million through a dollar-denominated bond offering, according to bankers familiar with the matter.

The deal will be structured under the Reserve Bank of India’s hedging facility, a mechanism designed to mitigate currency risk for issuers and make Indian debt more attractive to foreign investors who are otherwise wary of rupee volatility.

ICICI Bank is currently preparing to issue at least $500 million in offshore benchmark bonds, marking its first dollar-denominated debt sale in nearly nine years.

This move extends a growing trend of Indian financial institutions tapping international capital markets with the backing of central bank support.

The RBI’s facility effectively allows issuers to hedge their foreign-currency liabilities at favorable rates, reducing the cost of borrowing and broadening the investor base beyond domestic entities.

The EXIM Bank’s planned issuance follows similar moves by other Indian lenders.

ICICI Bank is currently preparing to issue at least $500 million in offshore benchmark bonds, marking its first dollar-denominated debt sale in nearly nine years.