ET reported that Indian Railway Finance Corporation is selling bonds to raise up to INR 1000 crore. It is selling bonds in 4 tranches. These are 10 year bonds with bullet repayment, 15 year with amortized equal repayment every year, 20 year with amortized equal repayment every year and 20 year with a bullet repayment.

There is no indicative yield specified by the company and the bonds will be sold via book building. The minimum subscription amount under each of the above tranches is INR 500 million and coupon on the bonds is payable semi annually.