At $1 billion, the five-year zero-coupon CB also marked the largest equity-linked issue ever out of India surpassing Reliance's own $500 million issue in March 2006 and the similar-sized deal from HDFC in August 2005. Both those deals struggled. HDFC had to be re-offered below par, and the first Reliance deal allegedly left sole leads Deutsche Bank with a lot of paper on its own books due to a...
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