Indian borrowers begin 2021 on a high, sell bonds worth $2.1 billion

Three Indian borrowers have already sold dollar bonds so far this year, riding a strong wave of global deals and making it the strongest start to a year ever for the country’s issuers.

The firms have priced $2.1 billion of dollar bonds. They are joining borrowers globally that have been rushing to credit markets, after yields crashed following cash-boosting measures by authorities to keep economies afloat amid the pandemic.

State Bank of India, regarded as a proxy for the sovereign in the international debt markets, sold $600 million of notes. The state-run lender priced the deal at 140 basis points