India's corporate bond sales set to slow significantly after record year

Debt sales in India’s rupee corporate bond market are likely to slow significantly this year after reaching a record in 2020, according to a Bloomberg News survey of debt arrangers.
 

Issuance will fall by 17 per cent to about 7.55 trillion rupees ($103.5 billion) this year, according to the median estimate of six of the nation’s top debt arrangers. Companies have less need to build up cash buffers and the potential for higher funding costs were cited by bankers as reasons for the expected drop.

"Last year’s bond sales deluge was supported by central bank’s liquidity injections and rate cuts, which