Market braced for dollar bond rush from India

23 May 2013

Bank of Baroda, Canara Bank and Indian Overseas Bank are considering issuing US dollar denominated bonds following Syndicate Bank’s roadshow announcement on Monday. Global sentiment on Indian bank credit is improving and deals would be received well, bankers told EuroWeek Asia’s sister publication Asiamoney.

Syndicate Bank will meet investors in Singapore and Hong Kong this week and London next week, with a view to issuing a Reg S, US dollar bond. The Indian lender has hired Citi, Deutsche Bank, HSBC, JP Morgan and Standard Chartered for the roadshow.

On Thursday, Canara said it ...

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