Corporates put bond issuances on backburner

War mongering and posturing seems to have claimed another casualty in addition to its already lengthy list. The latest in line is the corpor...

War mongering and posturing seems to have claimed another casualty in addition to its already lengthy list. The latest in line is the corporate bond market.

Bankers say that quite a few corporates have put their borrowing programmes on hold for the moment keeping in mind the uncertainty prevailing in financial markets due to border tensions and the war of words.

Said a merchant banker: “There is too much fluctuation in the market and nobody wants to take a call on which way interest rates are going to move. As a merchant banker, there is no rate that I can assure when a corporate approaches me. Everybody is taking a look at the timing before going ahead. Some of the corporates taking a relook at the timing of their issues are GE Shipping, Sterlite and Forbes Gokak.

That is why some corporates have taken to short-term borrowings linked to Mibor. Once things become clearer, they will resort to longer term borrowing.”

India win hands down, skip the handshake with Pakistan

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Indian captain Suryakumar Yadav led his team to a dominant seven-wicket victory against Pakistan in the Asia Cup match, dedicating the win to the Armed Forces and mentioning the Pahalgam terror attack. Yadav's refusal to shake hands with the Pakistani players added to the intensity of the game. Despite the lack of drama, the match was action-packed.

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