Indian Banks & Financials
Indian banks and financial issuers.
Indian financial issuers in the USD crossborder space present compelling carry opportunities, with yields spanning the mid7% to high8% range across liquid 2027–2030 maturities. Higherbeta segments of the screen offer standout yield pickup, led by select credits like IIFOIN printing a 7.6% yield to worst maturing in July 2030 and shorterdated IHFLIN paper touching a 7.701% yield to worst. Backed by robust domestic credit growth and resilient balance sheet metrics, the opportunity set also features attractive discount pricing on mediumduration notes such as the CPRGLC 2029s trading near 96.8 to yield above 8.7%.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Capri Global Capital Ltd | …AA75 | 7.55 | 8.743 | 96.7464756 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 2 | Capri Global Capital Ltd | …AA11 | 7.55 | 8.709 | 96.835 | 2029-12-09 | High Yield 1 | USD | 300MM | |
| 3 | IIFL Finance Ltd. | …MP79 | 7.6 | 8.397 | 97.5 | 2030-07-10 | B+ | USD | 300MM | |
| 4 | Sammaan Capital Ltd. | …9232 | 7.5 | 8.289 | 97.38 | 2030-10-16 | BB- | USD | 450MM | |
| 5 | IIFL Finance Ltd. | …MD40 | 7.6 | 8.073 | 98.75 | 2029-09-10 | B+ | USD | 500MM | |
| 6 | Sammaan Capital Ltd. | …9400 | 8.95 | 7.808 | 101.88 | 2028-08-28 | BB- | USD | 300MM | |
| 7 | Sammaan Capital Ltd. | …2053 | 9.7 | 7.701 | 101.25 | 2027-07-03 | BB- | USD | 306MM | |
| 8 | IIFL Finance Ltd. | …ET83 | 8.75 | 7.553 | 101.88 | 2028-07-24 | B+ | USD | 412MM | |
| 9 | Fairfax India Holdings Corporation | …AA69 | 5 | 7.518 | 96.9 | 2028-02-26 | 2027-12-26 | No Rating | USD | 500MM |
| 10 | Axis Bank Ltd. | …2552 | 6.875 | 7.435 | 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.