Asian credit correspondent
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Indiabulls Housing Finance won a vote of confidence from international investors last week with its first US dollar bond, even as fellow non-bank lender Dewan Housing Finance Corp took drastic action to prevent a liquidity crisis.
ReNew Power is returning to a controversial funding structure to access the international debt capital markets, in a sign that recent rule changes may allow more Indian companies to borrow overseas.
Indian non-banking finance companies are drawing up plans to raise up to Rs75bn (US$1bn) of equity capital to bolster their balance sheets at a time when the debt market has become more risk-averse towards the highly geared sector.