Issuer of India s Biggest Junk-Bond Gets Nod to Delay Payment bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
India s Biggest Junk Bond Sweetens Offer in Return for More Time bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Indian companies experienced the largest influx of foreign investment in their bonds in five years as the countrys largest-ever low-grade local currency debt sale attracted overseas investors enticed by the high yields. Goswami Infratech, a Shapoorji Pallonji group company, raised INR 143 billion ($1.7 billion) by selling zero-coupon bonds through private placement, offering a yield of 18.75%. This surge in interest resulted in foreign investors buying INR 47.1 billion of Indian local company debt on Wednesday, the highest inflow since 2018. The positive sentiment is due to strong economic growth, improved corporate balance sheets, and the Indian central bank s decision to pause interest rate hikes.
Foreigners Flock to Snap Up 18 75% Yield on India Low-Grade Bond bloomberg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloomberg.com Daily Mail and Mail on Sunday newspapers.
The offering comes at a time when investors are turning bullish on India's credit market as a strong economy and improved corporate balance sheets have alleviated concerns