Indian Lenders Delay Dollar Bond Sales as Hedging Costs Rise
At least four public- and private-sector lenders are deferring plans to issue US dollar debt, officials and merchant bankers said, citing higher Treasury yields and hedging costs. Canara Bank, PNB and Bank of India are among those that put plans on hold.
At least four public sector-run and private lenders are deferring their plans to tap the US dollar debt market as a recent spike in Treasury yields and hedging costs has made this proposition expensive, bank officials and merchant bankers said.Canara Bank, PNB and Bank of India put plans on holdCan…