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India's $10 billion foreign debt sale: Investors debate govt's options

Investors are wondering if India will press ahead with a foreign-currency debt sale, opt for the issuance of rupee-denominated notes, or ease foreign ownership limits on local markets instead

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Kartik Goyal & Subhadip Sircar | Bloomberg
With India's plans for its inaugural overseas bond sale shrouded in confusion, investors are assessing the government's options for the $10 billion offering.    

The departure of the official handling the sale and reports of opposition from the prime minister's office have left investors wondering if India will press ahead with a foreign-currency debt sale, opt for the issuance of rupee-denominated notes known as Masala bonds, or ease foreign ownership limits on local markets instead.   

The yield on the benchmark 10-year bond fell 7 basis points Monday after Finance Minister Nirmala Sitharaman was quoted by the Economic Times as