Indian Banks & Financials
Indian banks and financial issuers.
The Indian financials sector presents compelling riskadjusted carry opportunities in USDdenominated debt, driven by robust domestic credit growth and solid balance sheet fundamentals. Yields across the current screening cohort sit comfortably in the midtohigh single digits, exemplified by the IIFOIN 8.75% 2028 offering a 7.56% YTW and the IHFLIN 7.5% 2030 printing at an 8.27% YTW. Relative value seekers can capture peak yields reaching up to 8.64% via the CPRGLC 7.55% 2029 maturities, providing attractive absolute return profiles for crossover credit portfolios.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Capri Global Capital Ltd | …AA11 | 7.55 | 8.644 | 97 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 2 | Capri Global Capital Ltd | …AA75 | 7.55 | 8.644 | 97 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 3 | IIFL Finance Ltd. | …MP79 | 7.6 | 8.395 | 97.5 | 2030-07-10 | B+ | USD | 300MM | |
| 4 | Sammaan Capital Ltd. | …9232 | 7.5 | 8.269 | 97.44 | 2030-10-16 | BB- | USD | 450MM | |
| 5 | IIFL Finance Ltd. | …MD40 | 7.6 | 8.071 | 98.75 | 2029-09-10 | B+ | USD | 500MM | |
| 6 | Fairfax India Holdings Corporation | …AA69 | 5 | 8.046 | 96.2321429 | 2028-02-26 | 2027-12-26 | No Rating | USD | 500MM |
| 7 | Sammaan Capital Ltd. | …9400 | 8.95 | 7.816 | 101.8775 | 2028-08-28 | BB- | USD | 300MM | |
| 8 | IIFL Finance Ltd. | …ET83 | 8.75 | 7.56 | 101.88 | 2028-07-24 | B+ | USD | 412MM | |
| 9 | Sammaan Capital Ltd. | …2053 | 9.7 | 7.446 | 101.4375 | 2027-07-03 | BB- | USD | 306MM | |
| 10 | Axis Bank Ltd. | …2552 | 6.875 | 7.384 | 97.8333334 | 2176-06-30 | 2031-12-30 | BB- | USD | 600MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.