Indian Banks & Financials
Indian banks and financial issuers.
Indian financial sector issuers are currently offering compelling riskadjusted yields in the USD credit market, driven by robust domestic economic fundamentals and strong corporate balance sheets. Yields across the screen sit comfortably in the midtohigh single digits, with midduration issues such as the 2029 maturities from CPRGLC yielding approximately 8.59% and IIFOIN hovering around 8.07% to 8.47%. Shorterdated paper from names like IHFLIN and IIFOIN provides attractive alternatives with yields spanning 7.57% to 7.83%, alongside select higherbeta exposure offering yields exceeding 8.30% for investors seeking enhanced carry in the 2030 maturity bucket.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Capri Global Capital Ltd | …AA11 | 7.55 | 8.586 | 97.1375 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 2 | Capri Global Capital Ltd | …AA75 | 7.55 | 8.586 | 97.1375 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 3 | IIFL Finance Ltd. | …MP79 | 7.6 | 8.472 | 97.25 | 2030-07-10 | B+ | USD | 300MM | |
| 4 | Sammaan Capital Ltd. | …9232 | 7.5 | 8.325 | 97.25 | 2030-10-16 | BB- | USD | 450MM | |
| 5 | Fairfax India Holdings Corporation | …AA69 | 5 | 8.2 | 96 | 2028-02-26 | 2027-12-26 | No Rating | USD | 500MM |
| 6 | IIFL Finance Ltd. | …MD40 | 7.6 | 8.067 | 98.75 | 2029-09-10 | B+ | USD | 500MM | |
| 7 | Sammaan Capital Ltd. | …9400 | 8.95 | 7.826 | 101.88 | 2028-08-28 | BB- | USD | 300MM | |
| 8 | Sammaan Capital Ltd. | …2053 | 9.7 | 7.783 | 101.25 | 2027-07-03 | BB- | USD | 306MM | |
| 9 | IIFL Finance Ltd. | …ET83 | 8.75 | 7.572 | 101.88 | 2028-07-24 | B+ | USD | 412MM | |
| 10 | Axis Bank Ltd. | …2552 | 6.875 | 7.432 | 97.625 | 2176-06-30 | 2031-12-30 | BB- | USD | 600MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.