{
  "id": 4855239,
  "title": "Capri Global taps dollar market with debut debt issue after banks hit pause",
  "url": "https://urgent.news/2026/09/01/capri-global-taps-dollar-market-with-debut-debt-issue-after-banks-hit-4855239",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-01T12:01:25.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40437415/capri-global-taps-dollar-market-with-debut-debt-issue-after-banks-hit-pause"
  },
  "original_language": "en",
  "account": "Mumbai: India's Capri Global Capital has commenced the process of borrowing in dollars, marking its first-ever foreign currency debt issuance, according to two merchant bankers who spoke on Tuesday. The non-banking financial company aims to raise between $300 million and $500 million through 3-year-and-3-month bonds, with an initial price guidance of around 7.75%, the bankers added, while declining to comment to the media due to their lack of authorization. There is speculation that other firms could now tap the market, especially those who have completed the initial groundwork.\n\nIn June, the company had appointed lead managers and held investor calls but ultimately decided against proceeding with the issue due to less favorable pricing compared to expectations. Fitch Ratings has assigned the proposed dollar-denominated senior secured bonds an anticipated rating of 'BB-(EXP)'. These bonds will be issued as part of Capri Global's global medium-term note program, with a ceiling of $1 billion. Earlier this fiscal year, Capri Global's Managing Director, Rajesh Sharma, indicated that the company intends to elevate the proportion of capital market borrowings on its balance sheet.\n\nThe issuance follows Indian lenders collectively raising a total of $12.15 billion through the sale of dollar bonds during June and August under the Reserve Bank of India's discounted swap window. ICICI Bank recently followed suit, raising $500 million through a private placement at a coupon of 5.3080%, as reported by a stock exchange notice. ICICI Bank leads the fundraising efforts with an aggregate of $3.55 billion raised through a mix of private placements and public issues, with nearly equal contributions. Private lenders accounted for over 75% of the funds raised in this period.",
  "summary": "MUMBAI: India’s Capri Global Capital has initiated the procedure to borrow in dollars in what would be its first ever foreign currency debt issuance, two months after it appointed lead managers, two merchant bankers said on Tuesday. The non-banking financial company will aim to raise around $300 million to $500 million through 3-year-and-3-month bonds and has provided an initial price guidance of…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Hindu BusinessLine",
        "title": "Capri Global taps dollar market with debut debt issue after banks hit pause",
        "url": "https://urgent.news/2026/09/01/capri-global-taps-dollar-market-with-debut-debt-issue-after-banks-hit",
        "published": "2026-09-01T09:42:52.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}