Indian Banks & Financials
Indian banks and financial issuers.
Indian financial sector USD issuance offers professional fixedincome investors compelling spread pickup, with highbeta credits screening at yields well in excess of 8% across the midtolong end of the curve. Shorterdated opportunities feature attractive absolute returns, highlighted by instruments such as IIFOIN's 8.75% 2028 paper yielding 7.425% and MGFLIN's 7.375% 2028 maturity trading at a YTW of 7.281%. The upper tier of the screen is dominated by names like CPRGLC, whose 7.55% 2029 notes deliver yields approaching 8.42%, presenting strong relative value for portfolios targeting robust emergingmarket credit exposure.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Capri Global Capital Ltd | …AA11 | 7.55 | 8.424 | 97.5625 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 2 | Capri Global Capital Ltd | …AA75 | 7.55 | 8.401 | 97.625 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 3 | IIFL Finance Ltd. | …MP79 | 7.6 | 8.309 | 97.75 | 2030-07-10 | B+ | USD | 300MM | |
| 4 | Sammaan Capital Ltd. | …9232 | 7.5 | 8.172 | 97.75 | 2030-10-16 | BB- | USD | 450MM | |
| 5 | IIFL Finance Ltd. | …MD40 | 7.6 | 8.066 | 98.75 | 2029-09-10 | B+ | USD | 500MM | |
| 6 | Fairfax India Holdings Corporation | …AA69 | 5 | 8.055 | 96.1541149 | 2028-02-26 | 2027-12-26 | No Rating | USD | 500MM |
| 7 | Sammaan Capital Ltd. | …9400 | 8.95 | 7.542 | 102.38 | 2028-08-28 | BB- | USD | 300MM | |
| 8 | Sammaan Capital Ltd. | …2053 | 9.7 | 7.438 | 101.5 | 2027-07-03 | BB- | USD | 306MM | |
| 9 | IIFL Finance Ltd. | …ET83 | 8.75 | 7.425 | 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.