HDFC hints at future for Masala bonds

rupees 230-150x
By Morgan Davis
22 Nov 2018

India’s Housing Development Finance Corp (HDFC) sold a privately placed offshore rupee bond this week, giving an inkling of hope to what has been a lacklustre market.

HDFC has been a leader in the Masala bond market, selling a few public deals, including the first rupee trade from an Indian corporation. In March, the company’s subsidiary, HDFC Bank, became the first Indian bank to sell a Masala bond.

But the market has been dead ...

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