Indian Lenders Delay Dollar Debt Sales
Several Indian banks have postponed plans to issue US dollar debt after rising Treasury yields and higher hedging costs made fundraising expensive. Canara Bank and Punjab National Bank are among the lenders holding back until market pricing improves.
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At least four financial institutions in India halted plans to raise $2.5B in the United States dollar debt market due to surging yields and hedging costs. The cancellations affect major state-run and private lenders that previously initiated fundraising talks.
