Government push heats up Masala issuance

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By Morgan Davis
27 Apr 2017

Indian power company NTPC sold its second Masala bond on Tuesday, hitting the market a day after the National Highways Authority of India (NHAI) kicked off a roadshow for its debut. With more state-owned companies expected to jump on the Masala bandwagon, the government’s efforts at boosting the market appear to be paying off, writes Morgan Davis.

The Indian government has been consistently vocal about its support to the Masala market since it opened last year when Housing Development Finance Corp (HDFC) sold the first offshore rupee deal from India.

Things picked up a notch this month, when the Ministry of Finance spoke about ...

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