India's $10 billion foreign debt sale: Investors debate govt's options

Investors are wondering if India will press ahead with a foreign-currency debt sale, opt for the issuance of rupee-denominated notes, or ease foreign ownership limits on local markets instead

With India's plans for its inaugural overseas bond sale shrouded in confusion, investors are assessing the government's options for the $10 billion offering.    

The departure of the official handling the sale and reports of opposition from the prime minister's office have left investors wondering if India will press ahead with a foreign-currency debt sale, opt for the issuance of rupee-denominated notes known as Masala bonds, or ease foreign ownership limits on local markets instead.   

The yield on the benchmark 10-year bond fell 7 basis points Monday after Finance Minister Nirmala Sitharaman was quoted by the Economic Times as