Mumbai, Dec. 3 -- According to the company, the five-year ECB facility is benchmarked to the Tokyo Overnight Average Rate (TONAR). Although the loan amount is yet to be drawn, the facility agreement, covering an aggregated amount equivalent to USD 300 million in JPY, was formally executed on 2 December 2025.

IRFC stated that this development marks its first entry into the ECB market under the IRFC 2.0 framework, following the company's strategic diversification into infrastructure projects with backward and forward linkages.

The company added that proceeds from the loan will be used to finance projects connected to the railway sector or other approved initiatives, in line with the External Commercial Borrowing guidelines.

Manoj Kumar D...