Border rift weighs on Indian high-yield

摘要

An escalation in border tensions with Pakistan is dampening international demand for Indian bonds, just as more private-sector companies are lining up to tap the offshore market. The latest military skirmishes between India and Pakistan, which shot down two Indian jets last Wednesday, tempered enthusiasm for a US$200m bond offering from JUBILANT PHARMA, which met size expectations but was not able to tighten from initial price guidance of 6%, according to DCM bankers.