Companies raise $4.55 bn via ECB

Companies raised $4.55 billion, through external commercial borrowing (ECB) in December, to fund modernisation, foreign acquisitions, import of capital goods and onward lending, according to the Reserve Bank of India (RBI) data released on Friday.

On a year-on-year basis it was an impressive growth of 297%.

While on a month-on-month basis it was a growth of 109%. Besides that in December Flexituff Internationa raised $9 million through Foreign Currency Convertible Bonds (FCCBs) compared with none in December 2012.