Indian groups set to price dollar bonds

The China-heavy Asian high-yield sector is set to see new players emerging in the coming months, with Indian corporates Greenko, GCX and Tata Steel setting the scene.
India to join high-yield action
India to join high-yield action

Green energy player Greenko, communications services company Global Cloud Xchange and steelmaker Tata Steel are set to price dollar bonds by this week's business, the latest players to emerge in the Asian high-yield space that are not actually from China.

The three bonds, which originate from India, come at a time when high-yield experts are calling for increase diversity in a space that is highly dominated by Chinese issuers.

According to Dealogic data, Chinese issuers have raised close to $11 billion with 31 deals in the high-yield space year-to-date, accounting for 72.3% of total market share. This is followed by Singapore, Indonesia, Macao and India,...

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