Economic Times
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Non-banking finance companies (NBFCs) have turned out be the darlings of global investors who are now betting big on dollar bonds after the finance minister announced a relief package for the sector last week.
High-yield bonds sold by Manappuram, Muthoot, IIFL Fin, Shriram Transport, Indiabulls Housing have rallied in just about a week’s time with yields plunging as much as 500 basis points (bps). This could well pave the way for local shadow banks tapping overseas capital. When yields fall, prices rise. A basis point is 0.01 per cent.
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