Canada’s British Columbia has become the first foreign government issuer of masala bonds, with the province successfully raising Rs.5 billion through a rupee-denominated bond on the London Stock Exchange, Canadian Finance Minister Michael de Jong said.
•    India is one of the fastest-growing economies in the world and is one of B.C.’s (British Columbia) priority export market partners,” Mr. de Jong said. 
•    The masala bond issuance offers British Columbia a means to become well-positioned to profile our confidence in the outlook for India, and to participate in the internationalization of the rupee and India’s economy.
•    British Columbia’s bond with a three year tenor was priced to yield 6.62 per cent semi-annually, according to the Canadian government.
•    “B.C. is also working on a reciprocal arrangement where representatives from the Province of B.C. would work in India” the government said in a statement
 

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