Indian lender in $100m dim sum bond

September 30, 2011 17:29

In the Financial Times, Indian lender Infrastructure Leasing & Financial Services (IL$FS) is set to become the first Indian group to raise renminbi-denominated debt in Hong Kong, planning a three-year $100m dim sum bond early next month, people close to the matter said.

The move comes on the heels of the Indian government's decision to allow domestic companies to raise debt in the Chinese currency, and Hong Kong is attractive as companies can raise funds there at about 70 per cent of the cost at home.

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