Page 19 - Bonds
China advances $142-bn 2020 local-govt bonds by a year to spur growth
Beijing has been leaning more heavily on fiscal stimulus to weather the current downturn, announcing 2 trn yuan in tax and fee cuts this year and 2.15 trn yuan in local government bond issuance
 "China advances $142-bn 2020 local-govt bonds by a year to spur growth")
Reliance Capital again defaults on payment obligations towards bonds
Reliance Capital on September 21 had said that the rating action by CARE was a completely biased, unwarranted and unjustified action on September 20, 2019
 "Reliance Capital again defaults on payment obligations towards bonds")
Market expects cut-off price of 11.90 bonds maturing in 2007 to Rs 100.85
The players have, however, given a wide range of Rs 100.65 and Rs 100.90, clearly indicating a heterogeneous picture
Indian firms default on record $1.2 bn of bonds this year as economy slows
Those firms that delayed or missed debt payments in 2019 still have $17 billion of notes and loans outstanding including the defaulted securities
Pepsi to take green mainstream with sustainable bond sale: Details here
The company offered $1 billion of senior unsecured green securities, according to a person with knowledge of the matter
 "Pepsi to take green mainstream with sustainable bond sale: Details here")
Investors struggle to cut losses as shadow banking crisis deepens
Trading in NBFC bonds slid to a five-month low of about Rs 75,520 in the secondary market in September, the lowest since April
 "Investors struggle to cut losses as shadow banking crisis deepens")
Govt will maintain borrowing plan, likely sell Rs 2.68 trn of bonds: Report
A decision on the nation's maiden foreign currency sovereign bond sale, announced first in July, has not been made, the official said
 "Govt will maintain borrowing plan, likely sell Rs 2.68 trn of bonds: Report")
India Overseas Bank mobilises Rs 500 cr through issue of bonds
The funds mobilised will be used to meet the growth requirements apart from meeting the regulatory requirements, the statement said
 "India Overseas Bank mobilises Rs 500 cr through issue of bonds")
Bank of Baroda plans to raise capital up to Rs 3,000 cr via tier-II bonds
BOB is amongst the better capitalised PSBs, with a common equity tier I capital of 8.49% in 1QFY20
 "Bank of Baroda plans to raise capital up to Rs 3,000 cr via tier-II bonds")
SBI raises up to Rs 3,105 cr by issuing bonds under Basel-III regulations
To comply with Basel-III capital regulations, banks need to improve and strengthen their capital planning processes
 "SBI raises up to Rs 3,105 cr by issuing bonds under Basel-III regulations")
UK bonds signal recession as inflation bedevils Bank of England's response
In a so-called yield curve inversion, a typical harbinger of economic contraction, the yield on 10-year government debt fell below the 2-year equivalent on Wednesday for the first time since 2008
 "UK bonds signal recession as inflation bedevils Bank of England's response")
Why India's $10 billion foreign bond sale plan may never take off
There are worries that Asia's third-biggest economy may come under pressure during bouts of risk aversion, especially given the current backdrop of slowing global growth
 "Why India's $10 billion foreign bond sale plan may never take off")
RBI rate cut only good for short-duration bonds as hopes of big cuts fade
The RBI reduced its main rate by an unconventional 35 basis points to 5.4%, the lowest since 2010
 "RBI rate cut only good for short-duration bonds as hopes of big cuts fade")
FM Sitharaman rules out rethinking on overseas sovereign bonds: report
The proposal has been criticised by former heads of the Reserve Bank of India, economists and allies of the ruling BJP
 "FM Sitharaman rules out rethinking on overseas sovereign bonds: report")
India's plan to sell $10-bn yen debt has one more hurdle: It's too much
The plan, if it does go ahead, may need to be revised, according to Kenichi Kurahashi, a Tokyo-based chief fund manager at Mitsubishi UFJ Kokusai Asset Management Co
 "India's plan to sell $10-bn yen debt has one more hurdle: It's too much")
'Anti-patriotic': RSS wing says India must not issue foreign currency bonds
They say it is anti-patriotic as it could create long-term risks for the economy, potentially allowing rich foreign nations and their financial institutions to dictate the country's policies
 "'Anti-patriotic': RSS wing says India must not issue foreign currency bonds")
Govt plans to fund highways by issuing bonds with attractive returns
Gadkari said the government might raise funds by issuance of bonds and proposed an attractive rate of return of around 7.5-8 per cent
 "Govt plans to fund highways by issuing bonds with attractive returns")
Indian bond markets to remain bullish despite correction in yields: DBS
Global drivers are also supportive as US yields harbour expectations of a dovish US Fed and a likely rate cut at the meeting later this month
 "Indian bond markets to remain bullish despite correction in yields: DBS")
Here's why govt's plan to float sovereign issue has divided the bond market
The issue of raising bonds overseas has come up several times in discussions
 "Here's why govt's plan to float sovereign issue has divided the bond market")
Extra-budgetary fund-raising through fully serviced bonds shot up in FY19
Issuances of Government of India-Fully Serviced Bonds (GoI-FSBs) shot up during FY19 and accounted for 0.34% of GDP
 "Extra-budgetary fund-raising through fully serviced bonds shot up in FY19")
