by Amruth Sundarkumar | Jun 16, 2021 | High Yield Bonds, India
ONGC Videsh, the international subsidiary of the Indian natural gas and oil corporation ONGC, is planning to raise $525mn in foreign currency loans from domestic and international lenders to repay bonds maturing next month, according to sources. They also claimed ONGC...
by Amruth Sundarkumar | Jun 15, 2021 | High Yield Bonds, India
Adani Group’s bonds and stock fell on Monday after a report from the Economic Times (ET) said that the accounts of three foreign funds holding shares in its group companies were frozen by the National Securities Depository Ltd (NSDL). The three foreign funds in...
by Amruth Sundarkumar | Jun 14, 2021 | Credit Ratings, High Yield Bonds, India
Delhi International Airport Ltd. (DIAL) was downgraded by Moody’s to B1 from Ba3. Moody’s also downgraded DIAL’s Baseline Credit Assessment (BCA) to b1 from ba3 and Cliffton Ltd.’s senior secured bond rating to B1 from Ba3. The outlook is negative. The...
by Amruth Sundarkumar | Jun 10, 2021 | High Yield Bonds, India
Indian Conglomerate Adani Group plans to separate its airport business from its holding entity, Adani Enterprises Ltd, marking the initial step in preparation for a public listing of Adani Airports. The group is expected to raise $500mn through a private sale of...
by bondevalue | May 25, 2021 | High Yield Bonds, India
Exim Bank of India reported FY21 net profits of INR 2.54bn ($35mn), a 105% jump YoY. The state-backed lender said that profits were helped by a dip in bad loans alongside loan growth of 7% partially offset by rupee depreciation vs. the dollar as most of its loans are...
by bondevalue | May 24, 2021 | Financial News, High Yield Bonds, India
India’s largest steel producer, JSW Steel reported its highest ever quarterly revenues in its earnings announcement on Friday. The steel giant’s revenues from operations rose 51% YoY to INR 269.3bn ($3.7bn) for Q4 ended March, and were up 9% YoY for FY21...
