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Five-fold increase in dollar bonds in 2019, firms raise $23.6 billion

Experts say even as foreign investors discriminate between higher and lower-rated issuers, the high-yields market has started to take shape overseas

Jash Kriplani & Anup Roy  |  Mumbai 

The lack of access to funds for below-top-rated corporates, along with attractive borrowing costs in the offshore market, has driven Indian firms to raise $23.6 billion through dollar bonds in 2019 — a nearly fivefold jump from the previous year. An analysis of the data showed that corporates from infrastructure, power, non-banking financial companies (NBFCs), and metal industries issued a slew of such bonds to meet their funding needs in the current year. “Globally, the rates have been conducive.

For borrowers, the all-in cost matters. Due to currency ...

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First Published: Thu, December 26 2019. 12:09 IST
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