Bharat sparks Indian bond supply, Adani up next

India's dollar bond market comes to life, with Bharat Petroleum becoming the first Indian issuer this year. Adani Ports has quickly followed.

Bharat sparks Indian bond supply, Adani up next

After an absence of almost two years, Bharat Petroleum returned to the dollar bond market on Tuesday, becoming the first Indian issuer to sell a dollar bond this year.

It closed a $600 million 10-year bond at a spread of 200bp over Treasuries, which was at the tight-end of final price guidance. That was in line with fair value for the deal, according to calculations by both bankers and analysts.

Bankers...

To continue reading, please login or register for free

Click for more on: bharat petroleum | adani ports | ntpc | india | bonds

Print Edition

FinanceAsia Print Edition

CONFERENCES