ADB raises $50 mln via offshore rupee-linked bonds - statement

NEW DELHI Tue Aug 26, 2014 1:57am EDT

NEW DELHI Aug 26 (Reuters) - The Asian Development Bank has raised $50 million through offshore, Indian rupee-linked, the lender said in a statement on Tuesday.

The rupee-denominated bonds would be settled in US dollars and would mature in August 2016, the statement said.

The bonds were sold as part of the Manila-based lender's $500 million offshore rupee-linked bond programme, which aims to deepen India's capital markets, it added. (Reporting by Rajesh Kumar Singh; editing by Malini Menon)