Indian Banks & Financials
Indian banks and financial issuers.
Indian financial issuers in the USD crossborder market are offering compelling yields driven by robust domestic credit demand and solid sovereign macroeconomic fundamentals. Yields to worst across the screened cohort range from approximately 7.25% to over 8.40%, with prominent names like the 2029 maturities from CPRGLC offering 8.42% and IIFOIN delivering up to 8.25% on 2030 paper. For fixedincome portfolios targeting emerging market credit, these instruments provide attractive relative value and strong riskadjusted returns, as demonstrated by shorterduration options like IHFLIN yielding 7.67% on 2027 paper and longerdated highyield alternatives maintaining firm pricing below par.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Capri Global Capital Ltd | …AA11 | 7.55 | 8.417 | 97.578125 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 2 | Capri Global Capital Ltd | …AA75 | 7.55 | 8.417 | 97.578125 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 3 | IIFL Finance Ltd. | …MP79 | 7.6 | 8.246 | 97.9417414 | 2030-07-10 | B+ | USD | 300MM | |
| 4 | Fairfax India Holdings Corporation | …AA69 | 5 | 8.175 | 96 | 2028-02-26 | 2027-12-26 | No Rating | USD | 500MM |
| 5 | Sammaan Capital Ltd. | …9232 | 7.5 | 8.118 | 97.925 | 2030-10-16 | BB- | USD | 450MM | |
| 6 | IIFL Finance Ltd. | …MD40 | 7.6 | 7.976 | 98.9734848 | 2029-09-10 | B+ | USD | 500MM | |
| 7 | Sammaan Capital Ltd. | …2053 | 9.7 | 7.674 | 101.359375 | 2027-07-03 | BB- | USD | 306MM | |
| 8 | Sammaan Capital Ltd. | …9400 | 8.95 | 7.646 | 102.211875 | 2028-08-28 | BB- | USD | 300MM | |
| 9 | IIFL Finance Ltd. | …ET83 | 8.75 | 7.477 | 102.0574616 | 2028-07-24 | B+ | USD | 412MM | |
| 10 | Axis Bank Ltd. | …2552 | 6.875 | 7.252 | 98.375 | 2176-06-30 | 2031-12-30 | BB- | USD | 600MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.