Vedanta Resources Ltd., controlled by Indian billionaire Anil Agarwal, is in talks with banks to raise more than $450 million via a loan to repay existing debt, according to people familiar with the matter. First Abu Dhabi Bank PJSC, Barclays Plc, Mashreqbank PSC and Standard Chartered Plc are among the lenders in discussion with the … Read more
A smaller-than-expected poll victory for Prime Minister Narendra Modi is leading to worries among bond investors about greater populism. Fiscal discipline has been a hallmark of Modi’s decade-long administration, and many investors were expecting him to win a supermajority to reduce the budget deficit and further cut government borrowing in the next budget. The election … Read more
“We’re very positive about India,” said Stephen Bird, chief executive officer of the firm that manages and administers £495 billion ($626 billion) in assets. Still, he sees the market facing some uncertainty ahead of the national elections starting next month. India’s debt market is projected to attract up to $40 billion of new money with … Read more