Bajaj Finance Plans $500 Million Offshore Borrowing Amid Stricter Domestic Regulations

• Bajaj Finance Ltd., India's largest non-banking finance company by market value, is planning to borrow up to $500 million offshore.
• The company is negotiating terms with at least four foreign banks, with the debt's tenor ranging from three to five years and pricing linked to the Secured Overnight Financing Rate.
• Funds will be raised under the Reserve Bank of India's external commercial borrowing route, which caps the interest rate at 500 basis points over the benchmark rate.
• A spokesperson for Bajaj Finance declined to comment on the transaction.
• Local shadow financiers are turning to global credit markets after RBI's new regulations made it difficult to raise domestic bank loans.

Source: https://www.business-standard.com/finance/news/biggest-shadow-bank-bajaj-finance-aims-to-borrow-500-million-loan-124081300084_1.html