Activity in the bond and currency markets remained lackluster this week as investors awaited more commentary from India's central bank over the prevailing liquidity situation.
Lack of big borrowings will lead to a decline in the rupee bond sales for the current quarter. This comes after the sales saw their best quarter in five years.
Fund Raising Plans
JSW Steel has priced its $500 million five-year note at 5.25 percent. Oil India and Rural Electrification Corporation are also planning to raise funds. Oil India met investors in Singapore, Hong Kong and London for a dollar bond sale. Rural Electrification Corporation too plans to raise $400 million through green bonds.
Rise Of Masala Bonds
Offshore rupee bonds will be in focus during the upcoming months as companies are planning to issue Masala bonds in London. The companies include Energy Efficiency Services, Indian Railway Finance, National Highways Authority of India and Indian Renewable Energy.
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