M&A seen driving India dollar offerings as costs drop
Mumbai
INDIAN dollar-denominated bond sales are set to accelerate in 2017 as mergers and acquisitions (M&A) and the cheapest borrowing costs in more than two years drive issuance. That's a contrast to 2016 when sales of US currency notes by local borrowers fell to a six-year low as higher US interest rates and a slump in the rupee to a record low jolted sentiment.
NN Investment Partners expects sales will rebound as companies seek funds for increased M&A, while Citigroup Inc sees easing rate volatility bolstering issuance.
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