BKT closes rare mid-cap loan but few borrowers will follow

30 Mar 2011

BKT Tires is wrapping up a rare international loan by an Indian mid-cap company, after attracting three banks in syndication. But the deal initially struggled to build momentum and is unlikely to inspire a wave of smaller companies to borrow outside India.

BKT launched the $165m six year deal in November but banks took their time to process the new credit, and commitments started to trickle in throughout January. Several Indian borrowers have since hit the market, discouraging smaller players from attempting to compete for commitments in a crowded market.

"Indian ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial