IL&FS Fin aims 30 pc jump in debt syndication volumes in FY14
"This year (FY13), we will close with about USD 5 billion and I hope it will go up to USD 6-8 billion in the next year (FY14)," IL&FS Financial Services managing director and chief executive Ramesh Bawa told PTI.
The money raised will include that coming through advisory services offered by both the domestic desk as well as international ones in London, Dubai, Singapore and the newly opened office in Hong Kong, he said.
Typically, nearly half of the money raised through the debt syndication advisory comes from international markets, he said.
"Singapore and Hong Kong will contribute majorly to the international syndication. These two markets are very stable and have been largely unaffected even as Europe and America faced troubles," he said.
IL&FS Financial Services inaugurated its fourth international office in Hong Kong last week with the aim to tap into the Greater China market both for IL&FS group companies as well as Indian corporates looking for overseas debt.
Bawa said the company already has up to 5 mandates from Indian corporates looking to tap money from Hong Kong and should be helping them raise up to USD 500 million in the next few months.
"These will be 3 year Dimsum bonds which the corporates are looking to raise for their overseas requirements. The money will not come ashore to India," he said.
Be the first to comment.