HALISTER1: India May Borrow Around 3.6t Rupees in 1H Fiscal 2017: STCI

India May Borrow Around 3.6t Rupees in 1H Fiscal 2017: STCI

(Bloomberg) -- India’s govt is expected to borrow around 3.6t rupees ($54b), or 60%, of its full-year issuance during April-Sept. period, Charmy Jain, analyst at STCI Primary Dealer, writes in note yesterday.
  • Bonds which have scope for re-issuance in five- to nine-year sector are 7.8% 2021, 7.94% 2021, 8.20% 2022, 8.08% 2022, 7.68% 2023 and 7.35% 2024: Jain; says debt with 10- to 14- year tenors are likely to be re-issued, alternating between current 10-year benchmark and 7.59% 2029 note
  • Lumpy redemptions in 2021-22 and 2022-23 deter further issuance in these maturity ranges: Jain
  • NOTE: Govt, RBI officials to meet in New Delhi today for deciding 1H fiscal 2017 borrowing calendar
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Charmy Jain (STCI Finance Ltd)

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