Borrowing costs surged the most since 2013 in February and rupee bond sales plunged to a 19-month low of 504.6 billion rupees ($6.9 billion) in the month. The strains came after India’s government announced near-record borrowings of about 12 trillion rupees on Feb. 1, adding to concerns that companies
could be crowded out of debt markets.
Attention now turns to companies
planning to seek bids for local-currency notes on Friday: National Highways Authority of India, LIC Housing Finance and Housing Development Finance Corp.
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