BRIC nations raise $131 bn via debt issues in 2007

BRIC nations raise $131 bn via debt issues in 2007

New Delhi: Emerging nations —Brazil, Russia, India and China (BRIC) — have raised $131.1 billion from the debt markets in the year so far, while India’s share stands at just over a sixth of the kitty.

BRIC nations raised the funds through debt markets in a total of 606 deals in 2007 so far, against $120 billion mopped via 736 deals in the year-ago period, according to data complied by global consulting firm Dealogic on 21 December.

India Inc has raised $20 billion so far this year through the debt capital markets, compared to nearly $13 billion garnered in the same period last year.

Debt capital refers to funds raised by companies through instruments such as bonds, and money secured from derivative instruments, such as futures, options and swaps.

Interestingly, China’s debt capital market (DCM) volumes more than doubled this year to $41.9 billion versus $21.6 billion in same period last year.

The Dealogic report says the average deal size in the BRIC region has grown 33% to reach $216.4 million in 2007, against $163 million last year.

Meanwhile, Brazil has seen a fall in its debt volumes as the country garnered $20 billion this year against $42 billion last year.

Russia’ volumes through issuance of debt have increased to $48 billion this year, while it was around $42 billion in the previous year.