Indian infrastructure firms aim to raise debt for project financing

A growing number of infrastructure companies in India are seeking to raise debt in international markets for project financing as foreign investors can get better help from Indian issuers across all sectors and ratings.

Companies raise money for capital expenditures and repay loans from domestic lenders, replacing them with longer maturities. GMR's Hyderabad Airport, JSW Hydro Energy, Delhi International Airport and IRB Infrastructure are among the companies to enter the market with project finance bonds in 2021.

Rahul Chawla, co-head, investment banking coverage at Deutsche Bank, told the media that in 2021 the main focus for them was on bond project financing.