Sep
10
Facing Dollar Squeeze, Indian Companies Rush for Samurai Loans
By-
Yen-denominated debt raised jump to highest since 2006
- Power Grid and IRFC among borrowers seeking Samurai loans
Indian companies lured by Japan’s near-record low interest rates and easier availability of funds are raising the most yen-denominated loans in more than a decade as dollar lenders turn cautious.
While Samurai loans still make up only a small portion of Indian firms’ total foreign-currency facilities, coming to more than 6 percent this year, they are growing in importance for borrowers. Power Grid Corp. and Indian Railway Finance Corp. are seeking such debt, adding to $846 million worth of yen syndicated loans raised by domestic companies this year, people familiar with the matter said. That’s the most since the same period in 2006…
Facing Dollar Squeeze, Indian Companies Rush for Samurai Loans
