Indian Banks & Financials

Indian banks and financial issuers.

The Indian banks and financial sector USD credit space currently offers compelling absolute yields ranging from approximately 7.25% to over 8.40%, presenting strong relative value for fixedincome portfolios seeking emerging market exposure outside traditional sovereigns. Midtohigh singledigit yields are widely accessible across the curve, highlighted by shorterdated paper such as the IIFOIN 8.75% maturing in July 2028 offering a 7.47% yield to worst, alongside higherbeta names offering incremental pickup. Longer duration options further enhance return profiles, led by names like the CPRGLC 7.55% maturing in December 2029 and the IIFOIN 7.6% maturing in July 2030, which screen attractively at yields to worst of 8.41% and 8.24% respectively.

Results are limited to USD bonds with an amount outstanding of at least USD 200MM.