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Junk bonds may not find takers for now

India experts pandemic Coronavirus
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coronavirus pandemic shut all economic activity, offshore bond markets have begun opening up for Indian issuers, but junk bond sellers will have to wait.Indian firms have aggressively tapped offshore bond markets this year, raising more than $10 billion so far, showed data from financial markets tracker Refinitiv.

Most of this was raised before the pandemic hit. Last year was equally busy, with Indian firms raising $20.7 billion, the most in six years, through offshore bond sales.In March, though, only one Indian company—real estate developer Macrotech Developers—managed to tap the bond market.

However, in the past month, two firms—state-owned lender REC Ltd and agrochemicals major UPL Ltd—raised $500 million each overseas.“The offshore.

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