India’s Samurai Loan Market Is Showing Some Signs of Revival
- NTPC plans syndication of yen loan on heels of IRFC marketing
- Access to yen funding would ease offshore redemption burden
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Indian borrowers are seeking to reopen access to a funding channel that has remained dormant since the pandemic erupted.
NTPC Ltd., India’s biggest electricity generator, is planning to raise the equivalent of $750 million in a yen-denominated loan targeting a pool of Japanese lenders in general syndication. It’s only the second Indian borrower since January to seek such financing, after Indian Railway Finance Corp. kicked off a deal last week.