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Indian companies have raised a total of $15.7 billion so far this year through debt securities, out of which mining major Vedanta Resources’ $1.7-billion bond issue was the biggest.
According to global deal tracking firm Dealogic, India’s debt capital market volume has reached $15.7 billion through 81 deals so far this year, out of which Vedanta Resources’ $1.7-billion high yield issue is the largest debt offering in 2011 year-to-date.
On May 26, Vedanta Resources, a diversified metals and mining company, issued a $1.7-billion high yield bond via a consortium of eight book-runners.
Citigroup, Barclays Capital, Credit Suisse, Royal Bank of Scotland and Standard Chartered Bank were the joint global coordinators and book runners for the issue, with Citi leading the execution of this offer.
Vedanta’s bond issue was the third offer since January, in which an Indian group raised over $1 billion from global markets.
The other two offers were — Tata Motors-Jaguar-Land Rovers’ $1.62 billion (£one billion) and ICICI Bank’s $1 billion offer.
The debt capital market volume recorded so far this year however, represents a 25 per cent decline from the record $21 billion raised through 209 deals during the comparable 2010 period, Dealogic added.
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