The RBI has introduced measures to encourage firms to access bond markets, while putting in place rules that will restrict large companies borrowing from banks. Photo: Pradeep Gaur/ MintMumbai: Indian companies are selling record amounts of rupee bonds to individuals, tapping savers dissatisfied with deposit rates at decade lows. Public issuance helped the Mumbai-based company lower the weighted-average cost of its debt to 9.33% from 9.90% a year earlier. Companies are choosing bonds over loans because banks haven’t followed RBI rate reductions, according to Shriram Transport Finance Co. JSW Steel Ltd said on 27 October it plans to refinance by raising Rs20 billion through either public issuance or private note placements.

Source: Mint November 04, 2016 09:20 UTC