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Conglomerate Reliance Industries has issued a $200m 20-year callable Formosa at par to yield 5 percent. The deal is
the first Formosa bond from an Indian company.A handful of state-owned Indian issuers, including Power Finance Corp,
PNB Housing Finance and the Housing and Urban Development Corp (Hudco), plan to sell bonds in the next few weeks.
While both Hudco and PFC intend to pursue offerings of between 10 billion rupees ($157 million) and 20 billion rupees, PNB Housing aims to sell bonds of 5 bln rupees to 10 bln rupees.
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