ADVERTISEMENT
Indian Firms Sell Record Amount of Rupee Bonds After Stimulus
Indian companies have raised about Rs 4 lakh crore through local notes since April 1.
17 Sep 2020, 07:30 PM IST 
The portrait of Mahatma Gandhi is displayed on an Indian 2,000 rupee banknote in an arranged photograph in Bangkok, Thailand. (Photographer: Brent Lewin/Bloomberg)
(Bloomberg) -- Indian companies have raised about 4 trillion rupees ($54.2 billion) through local notes since April 1, the best start to a financial year ever. The flurry mirrors unprecedented issuance around the world. It comes after unconventional stimulus steps by the authorities drove spreads on AAA rated three-year corporate bonds to the lowest level in close to 15 years.
©2020 Bloomberg L.P.