IL&FS dollar deal falls victim to choppy market

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By Morgan Davis
07 Mar 2018

India’s IL&FS Transportation Networks had to postpone its dollar bond debut after a series of unfortunate events on Tuesday. A weak market backdrop, a cautious investor base and a hefty pipeline of deals combined to dash its hopes, writes Morgan Davis.

The tables turned on Asia’s debt market, as investors again took the reins of the primary market. Last month's volatility not only made the market softer, but also created a backlog of deals. Chinese issuers are pressed to raise funds before their regulatory approvals expire, while Indian borrowers ...

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