Summary:
The deal is also significant for the state as the international investors have shown faith in a credit backed by a sub-sovereign from the emerging markets for the first time. "The successful closing of this deal is also a recognition of fundamental robustness of the Kerala economy and the development model adopted by the state by international investors," he said.At present, projects worth Rs 39,700 crore have been sanctioned under KIIFB. KIIFB is the first sub-sovereign entity in India to access the international debt capital markets in this manner," KIIFB chief executive officer and former chief secretary K M Abraham said. "This issue has also helped to showcase the unique strengths of Kerala in front of a wider global audience and help garner international investments to the state. "This is a milestone transaction..