Indian Banks & Financials
Indian banks and financial issuers.
Indian financial and lending institutions in the USD crossborder market are offering compelling yields to maturity, presenting attractive entry points for fixedincome portfolios seeking emerging market exposure backed by solid domestic credit fundamentals. Yields across the current screening pool sit firmly in the 7.20% to 8.50% range, led by names like CPRGLC (7.55% maturing December 2029) offering a YTW of 8.437%, and IIFOIN (7.6% maturing July 2030) yielding 8.227%. Shorterdated paper from issuers such as MGFLIN (7.375% maturing May 2028) at a 7.281% YTW and IHFLIN (9.7% maturing July 2027) at 7.471% provide strong riskadjusted carry for investors looking to lock in elevated yields ahead of potential global monetary policy shifts.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Capri Global Capital Ltd | …AA11 | 7.55 | 8.437 | 97.5208334 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 2 | Capri Global Capital Ltd | …AA75 | 7.55 | 8.437 | 97.5208334 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 3 | IIFL Finance Ltd. | …MP79 | 7.6 | 8.227 | 98 | 2030-07-10 | B+ | USD | 300MM | |
| 4 | Sammaan Capital Ltd. | …9232 | 7.5 | 8.171 | 97.75 | 2030-10-16 | BB- | USD | 450MM | |
| 5 | Fairfax India Holdings Corporation | …AA69 | 5 | 8.1 | 96.0625 | 2028-02-26 | 2027-12-26 | No Rating | USD | 500MM |
| 6 | IIFL Finance Ltd. | …MD40 | 7.6 | 7.965 | 99 | 2029-09-10 | B+ | USD | 500MM | |
| 7 | Sammaan Capital Ltd. | …9400 | 8.95 | 7.55 | 102.38 | 2028-08-28 | BB- | USD | 300MM | |
| 8 | Sammaan Capital Ltd. | …2053 | 9.7 | 7.471 | 101.5 | 2027-07-03 | BB- | USD | 306MM | |
| 9 | IIFL Finance Ltd. | …ET83 | 8.75 | 7.433 | 102.13 | 2028-07-24 | B+ | USD | 412MM | |
| 10 | Manappuram Finance Ltd. | …7364 | 7.375 | 7.281 | 100.13 | 2028-05-12 | BB- | USD | 270MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.