Indian banks plan $3.5 billion bond sales ahead of GDP data
after close1 source ↓written by the desknot a recommendation
- for a combined
- ₹240 billion
- plan
- ₹75 billion
- data due
- 11 Nov 2023
- RBI policy
- 5 Dec 2023
Indian lenders and state firms are set to raise up to $3.5 billion through bonds before the GDP data release and RBI's monetary policy decision. Key issuers include Power Finance Corp, Indian Railway Finance Corp, and Axis Bank, aiming for a combined ₹240 billion. This move reflects concerns over potential interest rate cuts amid mixed economic signals.
• Power Finance Corp and others target ₹240 billion
• Axis Bank and Bank of India plan ₹75 billion
• GDP data due on 11 Nov 2023; RBI policy on 5 Dec 2023
Market sentiment may hinge on the GDP print, influencing bond market dynamics.
Not investment advice. For informational purposes only.