Indian power majors to raise $1bn in UK via masala bonds
Saturday, April 8, 2017, 12:29 PM
Power companies will raise nearly $1 billion (roughly Rs 6,400 crore) through `masala bonds' in the UK during this fiscal, minister for power, coal, renewable energy and mines Piyush Goyal said. Masala bonds are rupee-denominated papers issued by Indian corporates in overseas markets to raise funds. Unlike dollar-denominated bonds, where the borrower takes the currency risk, investors bear the risk in case of masala bond.