Masala Bond News
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The rupee-denominated bonds or masala bonds are instruments through which Indian entities can raise funds by accessing overseas capital markets, while the bond investors hold the currency risk.
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HDFC, India's largest private sector mortgage lender, Monday raised Rs 30 billion by issuing the world's first ever "Masala" or rupee-denominated bond outside India in London Stock Exchange, a landmark event that will boost economic ties between India and the UK post Brexit.
In a first by any private sector Indian company, country's largest mortgage lender HDFC will issue USD 750 million rupee-denominated bonds, also known as 'Masala' bonds, to overseas investors to improve financing prospects for domestic infrastructure projects.
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