Indian NBFCs to look offshore in 2020

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By Morgan Davis
10 Dec 2019

Indian non-banking financial companies will be forced to wean off from their reliance on the rupee bond market and tap international investors next year amid a liquidity crunch onshore. But with buyers becoming increasingly selective on the kinds of NBFCs they will buy, borrowers should be prepared to pay up.

Two Indian NBFCs, Muthoot Finance and Shriram Transport Finance Co, ventured into the dollar bond market in 2019, throwing open the market for other NBFCs to follow. This was a key move, given the need for NBFC funding is clear, as the sector has struggled to ...

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