Swap rate fall tempts Indian borrowers to look offshore

A consistent fall in swap rates in India is encouraging many companies to tap the offshore loan market, with bankers reporting that borrowers are shunning local currency deals in favour of cheaper dollar loans to refinance old debt.

  • 11 Apr 2013

But there are concerns that the cap on pricing set by the Indian government for external borrowings means dollar loans will only be open for the biggest corporates, leaving mid-cap companies out in the cold.

The savings on offer are substantial. If an India company borrows at a ...

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