India's plan to sell $10-bn yen debt has one more hurdle: It's too much

The plan, if it does go ahead, may need to be revised, according to Kenichi Kurahashi, a Tokyo-based chief fund manager at Mitsubishi UFJ Kokusai Asset Management Co

Advocates of India’s first global bond offering are set to face another obstacle: there may not be enough appetite for $10 billion of yen-denominated debt.

The nation’s planned sale has been marked by controversy even before it gets off the ground, as reports surface of opposition from the prime minister’s office and the departure of an official handling the issuance. The government is said to be considering raising $10 billion at one go as early as October, with the yen and euro marked as preferred currencies.

The plan, if it does go ahead, may need to be revised, according to Kenichi Kurahashi,