The total debt volume of Bric (Brazil, Russia, India, China) countries has jumped 43% to $80.1 billion (Rs3.24 trillion) in the year so far, backed by strong contributions from Russia and China, even as India’s share stands at just one-sixth of the kitty. Of the total debt capital market, India’s share was around $13 billion, while China contributed $17.61 billion, data compiled by Dealogic shows.
Russia led the pack with a volume of more than $36 billion. Debt capital refers to funds raised by corporates through instruments such as bonds. It also includes money secured from derivative instruments, such as futures, options and swaps.
“Russia leads Bric debt issuance accounting for 45% of the volume, up 13 percentage points from 32% in 2006 year to day, followed by China with 22%,” Dealogic said.
India and Brazil added around 33%, totalling about $26.43 billion.
The $80.1 billion was raised from 404 deals against $55.9 billion from 394 deals in 2006.