Apr
24
Indian Companies Curb Global Loan Costs by Refinancing $5.1 Billion
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Firms replaced the most offshore loans in a year last quarter
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Novelis said in talks with banks for $5.3 billion refinancing
Indian companies refinanced offshore loans at the fastest pace in a year last quarter, rushing to take advantage of improved confidence in Asia’s fastest-growing major economy as borrowing costs start to rise.
Corporate borrowers took out $5.1 billion of loans for refinancing in the period at an average margin of 140 basis points over the London interbank offered rate, data compiled by Bloomberg show. That’s up from 98 basis points in the three months ended Dec. 31, the lowest since the second quarter of 2008…
Indian Companies Curb Global Loan Costs by Refinancing $5.1 Billion
