indias-kotak-enhances-its-cb-capabilities

India's Kotak enhances its CB capabilities

The Indian financial services group ties up with KBC Financial Products of Europe to arrange foreign currency convertible bonds for local companies.
Indian financial services group, Kotak Mahindra, has entered a co-operation agreement with KBC Financial Products, a subsidiary of European KBC Bank, to manage foreign currency convertible bond FCCB issuance for Indian companies.

Kotak and KBC will work together to assist Indian issuers to raise FCCBs in global markets. Kotak said the move enhanced its ability to execute FCCB mandates because it gives the firm global execution and distribution capabilities.

ôThe overall capital being raised in Indian primary markets is growing significantly and all instruments including FCCBs are seeing significant growth,ö explains Chetan Savla, executive director and co-head of equity product group at Kotak Investment Banking, the investment banking arm of KMCC.

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