Indian Companies Curb Global Loan Costs by Refinancing $5.1 Billion - Bloomberg

Indian Companies Curb Global Loan Costs by Refinancing $5.1 Billion - Bloomberg:

"Indian companies refinanced offshore loans at the fastest pace in a year last quarter, rushing to take advantage of improved confidence in Asia’s fastest-growing major economy as borrowing costs start to rise.
Corporate borrowers took out $5.1 billion of loans for refinancing in the period at an average margin of 140 basis points over the London interbank offered rate, data compiled by Bloomberg show. That’s up from 98 basis points in the three months ended Dec. 31, the lowest since the second quarter of 2008.
“Global lenders have a positive view on Indian credit as they are encouraged by the stronger growth dynamics and a robust outlook on the economy,” said Rajiv Datt, New Delhi-based managing director at Indian Railway Finance Corp., which refinanced loans late last year. “The pipeline should get stronger as liquidity globally ensures that funding will be at reasonable costs.”
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