India Inc’s foreign debt dips 68 per cent to USD 996 million in April

New Delhi

India Inc had raised as much as $3.16 billion from overseas market in the corresponding month of the previous financial year.

 Whereas no fund was raised by way of rupee-denominated bonds (RDBs) or masala bonds in April 2020, the borrowing during the yearago month included $304,462 through RDBs.

 Of the total borrowing from the foreign market in April this year, $696.04 million was raised through the automatic route of the external commercial borrowings (ECB).

 REC, the financial service provider in energy sector, was the sole entity to raise $300 million through the approval route of ECB for the purpose of on-lending.

 Among the major borrowers in the automatic route included Sical Logistics $179.10 million for overseas acquisition.

 Mahindra & Mahindra Financial Services raised $139.30 million for on-lending, and Adani International Container Terminal $98.51 million.