A big increase in Indian bonds overseas – $6 Billion in 2 Weeks

Despite looming global risks, Indian corporations raised $6 billion by selling offshore bonds from January 1 to 14, the biggest in the opening fortnight of the year, demonstrating international investors’ confidence in India’s economy.

After receiving bids several times, the offer size, a group of borrowers including Reliance Industries NSE 0.53% (RIL), State Bank of India NSE 1.11%, JSW Infrastructure, Shriram Transport Finance NSE -0.09%, and India Clean Energy were able to reduce their funding costs by 30-35 basis points compared to initial projections. A basis point is equal to 0.1% of a percentage.

Investors have shown a great interest in Indian concerns at a time when they are largely uninterested in other rising countries, particularly China.

According to Dealogic data, Indian companies raised $6.03 billion between January 1 and 14, up from $2.09 billion a year earlier.

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