India raised $2.5 bln from ECB/FCCB as late as October. Most of the $2.4 bln in September and $2.5 bln in October is infra and Petro bonds. FCCB pending from 2007 are deep out of the money. Overseas
investors having been caught in a firesale courtesy Europe, have been tough on their India FCCB holdings too
Adding to the list of large and mid sizedc corporates from the ETreport on Monday are the metal and minerals squeezed Tata Motors, Sesa Goa and Sterlite who better pay back their debt or their bleeding financial statements of the last two quarters would look benign in
comparison to the ones for December and March. Others like Bharat Forge, Bhushan ( $410 mln for cap goods import) Financial Technologies and L&T probably have cash to return the outstanding / buy back their paper in the market (Bhushan borrowed in September/October) Investors are already enjpoying a steeply higher yield at which they are now trading as first investors have sold out.
Mint(livemint.com) has got a nice table for redemptions due:

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