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India’s IIFL Finance Plans to Increase Fundraising Through Bonds, Confirms Official
IIFL Finance, an Indian non-bank financier, plans to expand borrowing through bonds due to lower capital market rates. Their CFO stated it depends on finding the right pricing and tenor. Their borrowing mix is currently 60% from banks, 20% from the bond market and the remainder from development finance institutions. They anticipate a borrowing increase of INR8bn to fund 25% growth.
Debt Cost for States Marginally Slips to 7.32% Despite Heavy Supply of Bonds
Although the supply of government securities has increased, the cost of state debt has slightly decreased to 7.32%. More than expected, Rs 17,300 crore was raised by 12 states in the latest auction, with a 3 basis point decrease in the average cut-off. Spread remains the same as the central government security yield. This improvement is highlighted by Aditi Nayar, head of research at Icra Ratings.
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India’s IIFL Finance Plans to Increase Fundraising Through Bonds, Confirms Official
IIFL Finance, an Indian non-bank financier, plans to expand borrowing through bonds due to lower capital market rates. Their CFO stated it depends on finding the right pricing and tenor. Their borrowing mix is currently 60% from banks, 20% from the bond market and the remainder from development finance institutions. They anticipate a borrowing increase of INR8bn to fund 25% growth.
