Page 2 - External Commercial Borrowings
Top 50 corporates reduce debt by about Rs 60,000 cr in first half of FY20
In the last financial year 2018-19, sources said, these companies had reduced their debt burden by about Rs 43,000 crore
 "Top 50 corporates reduce debt by about Rs 60,000 cr in first half of FY20")
Five-fold increase in dollar bonds in 2019, firms raise $23.6 billion
Experts say even as foreign investors discriminate between higher and lower-rated issuers, the high-yields market has started to take shape overseas
 "Five-fold increase in dollar bonds in 2019, firms raise $23.6 billion")
Indian firms raise $23 bn via dollar bonds; issuance sees five-fold jump
Softening of US treasury yields, weak domestic liquidity attract firms to yield-chasing offshore market
 "Indian firms raise $23 bn via dollar bonds; issuance sees five-fold jump")
RBI increases lending limit of MFIs to Rs 1.25 lakh from Rs 1 lakh
The income and loan limits to classify an exposure as an eligible asset were last revised in 2015
 "RBI increases lending limit of MFIs to Rs 1.25 lakh from Rs 1 lakh")
PNB Housing Finance raises Rs 522 cr via ECB from Sumitomo Mitsui Banking
The ECB is under the Reserve Bank of India's automatic route of approval and the proceeds will be used by the company as per the applicable RBI guidelines, the company said in a release
 "PNB Housing Finance raises Rs 522 cr via ECB from Sumitomo Mitsui Banking")
RBI relaxes external commercial borrowing norms for corporates, NBFCs
ECBs with a minimum average maturity period of 10 years can now be used for working capital purposes and general corporate purposes
 "RBI relaxes external commercial borrowing norms for corporates, NBFCs")
RBI reduces hedging requirements for ECBs of 3-5 years to 70% from 100%
The hedging reduction would help Indian firms borrow funds relatively cheaply as hedging cost added up substantially to the final cost
 "RBI reduces hedging requirements for ECBs of 3-5 years to 70% from 100%")
RBI reduces hedging provision for external commercial borrowings to 70%
The relaxed norms will apply to the ECBs with a maturity period between 3 and 5 years
 "RBI reduces hedging provision for external commercial borrowings to 70%")
ECB approvals to increase 38% over last year to $40 billion in FY19
The benchmark rate will be six-month dollar LIBOR or applicable benchmark for the respective currency
 "ECB approvals to increase 38% over last year to $40 billion in FY19")
Indian firms' foreign borrowings in April triple to $1.3 bn
A substantial portion of ECBs in April was taken to start new projects
 "Indian firms' foreign borrowings in April triple to $1.3 bn")
