Mumbai: Easy global liquidity, benign interest rates and a stable rupee have overshadowed Indo-Pak tension as overseas investors continue to latch on to dollarNSE 3.03 % debt from the country. Two more Indian companies, wind and solar energy company ReNew Power and trade financier Exim Bank, were in the market to together raise $900 million to take the total dollar funds raised from Indian companies to $4.7 billion so far this calendar year.
Exim, a routine dollar borrower, raised $500 million selling fiveyear bonds to investors in Asia and Europe at 140 basis points above the five year US treasury. One basis point is 0.01 percentage point. ReNew Power has raised $375 million by selling five year bonds priced at 6.67 per cent.
