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Indian Lenders Set Record With $8 Billion in Dollar Bond Sales

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Indian Lenders Set Record With $8 Billion in Dollar Bond Sales Indian financial institutions have sold a record amount of dollar bonds so far this year, as lenders rush to capitalize on a central bank facility that lowers hedging costs on overseas borrowings. The offerings reached $8 billion Thursday, breaching the previous record of $7.92 billion hit in 2019, according to data compiled by Bloomberg. At least four issuers, including the State Bank of India, ICICI Bank Ltd. and Axis Bank...

Indian Lenders Set Record With $8 Billion in Dollar Bond Sales Indian financial institutions have sold a record amount of dollar bonds so far this year, as lenders rush to capitalize on a central bank facility that lowers hedging costs on overseas borrowings. The offerings reached $8 billion Thursday, breaching the previous record of $7.92 billion hit in 2019, according to data compiled by Bloomberg. At least four issuers, including the State Bank of India, ICICI Bank Ltd. and Axis Bank Ltd., tapped the market in August, marking the busiest-ever month for such borrowings.
Indian (ORG) Bloomberg (PERSON) the State Bank of India (ORG) ICICI Bank Ltd. (ORG) Axis Bank Ltd. (ORG)
Originally published by Bloomberg Markets Read original →