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Topic: Bond sales
RBI should pull down long-term yields by selling short-tenor bonds and reinvesting in longer-term ones, says IDFC AMC’s Suyash Choudhary.
Bonds dropped Thursday after an official told reporters that the Modi govt hasn’t decided on the offshore bond sale yet.
The Reserve Bank of India’s board will meet next month to discuss, among others, the nation’s proposed maiden offshore bond sale plan, said sources.
The deal will give global funds more access to Indian sovereign bonds, and may also let the country’s other issuers adjust debt sale prices.
An ex-governor and two deputies of the RBI have argued that the time is not ideal for such an issuance because India runs quite a large budget deficit.
Axis Bank's Shashikant Rathi says the bond market is in 'complete chaos' since the shock defaults last year by IL&FS.
Mittal-controlled Bharti Airtel and Mukesh Ambani's Reliance Jio Infocomm bond sale may finally end India's steep telecom price pain.