Biggest Mortgage Lender Opens Market for Indian Masala Bonds

  • RBI permitted companies to issue offshore rupee debt last year
  • Other issuers with plans include NTPC, Rural Electrification

India’s first Masala bond from Housing Development Finance Corp., the nation’s biggest mortgage lender, opens the door for other high-quality issuers to tap the nascent offshore rupee-debt market, according to Credit Suisse Group AG and Nomura Holdings Inc.

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