A prolonged winter for the startup ecosystem and challenges to raise money from the stock market have led corporates to explore alternative, hybrid style of funding, Ankur Khurana, Standard Chartered’s co-head, corporate, commercial & institutional banking, client coverage, told Bloomberg TV’s David Inglis and Haslinda Amin in an interview Friday. This has bolstered overall growth of private credit, she added.
A growing list of global asset managers are setting up credit funds in India as they look to fill the funding gap, which was created after a shadow banking crisis spooked India’s financial sector about five years back. India-focused assets under management in private debt - the business of lending directly to companies - nearly doubled to $15.5 billion as of December 2022 from a year earlier, according to the most recent numbers from financial data provider Preqin.
Expects overseas dollar bond market opening for both investment grade and high-yield credit as rate hike cycle is nearing an end