Indian corporates are not touching bank loans even at sub-prime lending rates as commercial papers (CPs) and non-convertible debentures (NCDs) are being raised at historic low rates.
The rate of interest for the 10-year NCDs fell by around 45 basis points over the last one month to 10.80 per cent. The yields of triple-A (AAA) rated 90-day CPs declined by 25 basis points to 9.05 per cent.
CK Goushal, advisor-finance, Himachal Futuristic Communica- tions Ltd said: