Fund raising through issuance of debentures dropped 29 per cent to Rs 10,587 crore in 2020-21 due to decline in credit ratings and escalated risk of default on COVID-19 induced disruptions in capital intensive businesses. Going forward, experts say, the ongoing financial year (2021-22) will see some attractive numbers in non-convertible debenture (NCD) fund raising. We should see money mobilization through NCD route to the tune of 2018-19 levels in FY22 as many companies are entering capex cycle, GDP is projected to grow in double digits and bond yields have started to go up making more case for NCD issuances, Divam Sharma, co-founder at Green Portfolio, said.
by Todd DeFeo, The Center Square | April 13, 2021 08:30 AM Print this article
Some lawmakers want Gov. Phil Murphy to use incoming federal dollars to reduce the state’s debt.
“New Jersey will soon be swimming in cash from the federal government and I want to make sure those funds are dedicated to helping our taxpayers and the unemployed,” Assembly Republican Leader Jon Bramnick, R-Union, said in a news release. “New Jersey’s debt is among the highest in America and the Democrats and Gov. Phil Murphy saddled generations of residents with billions more in borrowing.
“I want to remind the governor that he pledged to pay off some of the state’s debt and I want to see that happen with the federal aid,” Bramnick added. “It’s also time we invest in the unemployment insurance system, so that people can get paid, and workforce development programs, so that people can get jobs.”
The share of foreign investors among holders of Russia's OFZ treasury bonds fell in February to its lowest since May 2016, data showed on Thursday, and analysts warned it may shrink further amid risks of fresh U.S. sanctions against Moscow.