(Bloomberg, 21 September 2011) Indian companies may turn to Hong Kong’s yuan bond market to raise funds at 40% the cost of top-rated home companies after India eased borrowing rules…. Rural Electrification Corp., India’s state-controlled lender to power projects, has applied to Sinosure, for a guarantee on a $350 million loan, Chairman Hari Das Khunteta said in an interview on Sept. 16…. Rural Electrification will borrow in yuan “if the terms are good and taking into account interest rates,” Khunteta said….. China, which was the biggest contributor to world growth last year, according to the International Monetary Fund, is promoting the yuan’s use in global trade and finance…. Annual trade between the world’s most populous countries will touch $60 billion in 2011.
Date
7 September 2011
