| | JUNE 20238India Infrastructure Finance Company Ltd (IIFCL), a state-owned financier, is expected to tap debt capital markets next week to raise up to 2,000 crore through 10-year bonds.As Stated by sources familiar with the developments, IIFCL's bond sale will have a base size of 500 crore and a green shoe option worth 1,500 crore.According to sources, the debt sale will be bid on on the BSE bond platform on Monday, May 29, from 11:00 a.m. to 12:15 p.m. IST. ICRA and India Ratings have assigned the bonds AAA ratings.Earlier this month, IIFCL's managing director PR Jaishankar told media that the company plans to nearly double its loan sanctioning and disbursement in the current fiscal year.The company is aiming for loan sanctions worth 35,000 crore while the disbursement target is around 20,000 crore, Jaishankar said.In the previous fiscal year, IIFCL's sanctions and disbursements were at 29,171 crore and 13,826 crore, respectively. Jaishankar said that the company plans to raise over 16,000 crore in the current financial year in order to finance business growth. On May 25, Vedanta-Foxconn Semiconductors Limited (VFSL), a joint venture of Foxconn and Vedanta Group, announced the appointment of Mike Young as senior vice president, project management office and manufacturing operations.Young will be in charge of overseeing manufacturing and operational processes as the company prepares to open its first semiconductor fab in India.Young's appointment comes at a time when the billionaire Anil Agarwal-led company is on a global talent acquisition drive to attract leaders from the semiconductor industry."Mike Young brings with him 34 years of extensive experience in front-end semiconductor manufacturing across multiple geographies, including significant contributions to two high-volume startups," said David Reed, CEO of VFSL. "He will play a critical role in establishing best-in-class semiconductor manufacturing processes and operations," he continued.Young joins Vedanta after a brief hiatus from his previous position as CEO of Singapore's Systems on Silicon Manufacturing Company (SSMC). Prior to this, he was the CEO of X-FAB Sarawak in Malaysia.Young has "extensively worked" in operations, yield, and device engineering with global leaders such as X-FAB UK, STMicroelectronics, Siemens, Atmel, and Plessey Semiconductors, according to Vedanta. Throughout his career, he has "demonstrated excellence in the governance and control of high-performing facilities through a combination of effective man management, continuous improvement, cost control, and operational performance enhancement." IIFCL TO RAISE UPTO RS.2,000 CRORE VIA BONDSMIKE YOUNG NAMED AS SENIOR VP OF VEDANTA'S SEMICONDUCTOR FABRICATION OPERATIONSIN FOCUSIN FOCUS
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