CPs slide below bank interest

Sunny Verma
Posted: Thursday, Dec 25, 2008 at 0120 hrs IST
Updated: Thursday, Dec 25, 2008 at 0120 hrs IST

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New Delhi: has increased sharply. So, the spread between the debt paper of companies and the sovereign increased by as much as 400 points in the EU and US.

In India, it is quite the reverse. “In the past few weeks, the spread on commercial paper in India has declined to 260 basis points from 400 bps over five-year government bond. This has resulted in lower rates on CPs,” said G Ramachandran, head, global research group, ICICI Bank....

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