India's EXIM Bank plans $300 million dollar bond sale under RBI hedging facility

State-run EXIM Bank is set to raise $300 million through three-year floating-rate dollar bonds priced at 90 basis points over SOFR, using the RBI's subsidised hedging facility for external commercial borrowings. This follows similar recent issuances totalling about $2.15 billion by Power Finance Corp, HDFC Bank, and Axis Bank, with an estimated $5 billion in such bond sales expected by end-September as banks and state-run companies frontload foreign currency borrowings.