Firms rush to sell short-term debt

INDIAN FIRMS HAVE stepped up short-term bond sales with issues worth around ₹27,000 crore lined up through Thursday as the Reserve Bank of India's rate cuts and hefty liquidity injections have made these borrowings cheaper.

- REUTERS

The issuers, which include three large state-run institutions and five big non-bank finance companies, will raise the funds through bonds maturing within five years, merchant bankers said.

Overall, companies have raised about $20 billion through private placement of bonds in the financial year that started on April 1.