Hot stuff: HDFC brings landmark maiden Masala

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By Rashmi Kumar
14 Jul 2016

The Masala bond market finally sprang into life this week as Housing Development Finance Corp sealed the first offshore rupee deal from an Indian corporate. With a benchmark now set and the currency one of the better performers this year, market watchers said the door has opened for peers to follow. Rashmi Kumar reports.

HDFC’s trade has been a long time coming. The mortgage lender began the process of selling an offshore rupee note back in October 2015 when it issued a request for proposals. But the deal never materialised, with many in the market blaming a discrepancy in pricing expectations between issuers ...

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