India bond debut sparks banker speculation about price, tenor and timing

By Silas Brown
11 Jul 2019

India’s plan to sell foreign currency bonds for the first time has prompted eager speculation among debt bankers in Asia. While bankers disagree over when the deal will launch and exactly what fair value will be, many expect the deal to come with a razor-thin spread. Silas Brown reports.

India’s finance minister, Nirmala Sitharaman, announced in her maiden budget speech on July 5 that the sovereign would turn to international bond markets for financing, immediately pushing bankers to consider potential demand for the deal.

“If India’s debut bond is well sized every single global fund ...

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