Indian borrowers add spice to dollar bonds

Tata Steel raises jumbo dual-tranche bond, while Greenko and Global Cloud Xchange prices structurally appealing high-yield notes.

Indian borrowers add spice to dollar bonds

Three Indian companies added spice to the dollar bond market on Friday morning, making use of Narendra Modi-fueled enthusiasm post-elections.

Tata Steel priced a $1.5 billion dual-tranche bond, green energy player Greenko raised a debut $550 million five-year note callable in year three and communications services company Global Cloud Xchange sold a maiden $350 million five-year paper callable in year two on Friday morning.

Syndicate bankers said the reason for global investors...

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