UK welcome first London sale of rupee bond from Indian private company

LONDON, Aug 1 (Reuters) - British finance minister Philip Hammond welcomed the issuance on Monday of the first offshore rupee-denominated bond from a private company, saying it highlighted London’s status as a leading global finance centre.

The three-year bond, from Indian bank Household Development Finance Corporation, raised 30 billion rupees ($450 million) at a yield of 8.33 percent and was more than four times oversubscribed, Britain’s finance ministry said.

“HDFC is the first company to issue a bond of this type and their decision to issue and list in London is a clear sign that Britain’s capital is the world’s number one financial centre,” the ministry said.

Since Britain voted to leave the European Union in June, it has been keener than normal to promote trading ties. (Reporting by David Milliken; editing by Michael Holden)