Rupee Impact: The ECB/FCCB repayment steer ( Part II)

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

Bharat Forge

Image via Wikipedia

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

English: Wordmark of Tata Motors

Image via Wikipedia

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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2 thoughts on “Rupee Impact: The ECB/FCCB repayment steer ( Part II)

  1. Pingback: Rupee Impact: The ECB/FCCB addendum (Part III) and remittances India/China « A blog of blogs (Please reblog!)

  2. Pingback: India Earnings Season: REC does better than the rupee. « A blog of blogs

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