Markets 'very good', firms should use yields: Axis Bank's Gambhir

Senior executive at lender says companies should access market if they need long-term funding.

Indian companies should use the current yields which are at multi-year lows to raise long-term funding, according to the nation’s biggest rupee bond arranger since 2007.

“The market levels are absolutely fantastic, absolute yields are quite low at multi-year lows, spreads are quite tight,” Neeraj Gambhir, group executive and head - treasury, markets and wholesale banking products at Axis Bank Ltd., said in an interview with Bloomberg Television. “Our suggestion to borrowers is that current market scenario is very good and if they need long-term funding they should be accessing the markets.”

Companies borrowed an unprecedented 9.8 trillion rupees ($134.4 billion) through