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Fi­nance Min­is­ter Dav­en­dranath Tan­coo is cur­rent­ly in New York this week for a bond show, as the Gov­ern­ment in­tends to bor­row up to US$1 bil­lion on the in­ter­na­tion­al cap­i­tal mar­ket.

When Guardian Me­dia con­tact­ed him last night on the over­seas mis­sion, Tan­coo said, “It is a work in progress and will is­sue a brief when com­plet­ed.”

In a le­gal no­tice is­sued on Jan­u­ary 12, Tan­coo said the Gov­ern­ment had ap­point­ed JP Mor­gan Se­cu­ri­ties LLC and Bank of Amer­i­ca Se­cu­ri­ties Inc as joint lead man­agers and arrangers for the is­suance.