IDBI, Axis test dollar markets for Indian debt
India’s financial institutions, regular visitors to the international debt markets when credit markets were booming in 2006-2007, took their first tentative steps back to dollars this week as IDBI Bank prepared to launch a $100m syndicated loan.
IDBI will be the first Indian lender to approach the offshore markets for funding since the beginning of 2009, and bankers expect the deal to pave the way for a cluster of other Indian banks to follow.
The mandate letter for the $100m one year facility is close to
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