BRIC nations mop up $125 bn via debt market in 2008

NEW DELHI: Emerging nations like Brazil, Russia, India and China have raised over USD 125 billion from the debt markets so far this year, with India accounting for USD 15 billion in the entire kitty, says a report.

China leads the pack of BRIC nations contributing 47 per cent or USD 58.7 billion to the total funds raised through the debt market, followed by Russia, which contributed 31 per cent to the kitty moping up USD 38.43 billion so far this year.

Meanwhile, Russia and India have both seen a decline of seven and 22 per cent respectively in debt volumes this year compared to the previous year, as per data compiled by global consulting firm Dealogic said.

India is third among the BRIC nations accounting for 12.4 per cent of the raised amount cornering USD 15.52 billion, while Brazil has raised USD 12.54 billion through debt market so far this 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.

The four emerging economies has raised a total of USD 125.2 billion through debt markets so far this, a 25 per cent jump over USD 100.1 billion mopped in the same period a year-ago.

However, the number of deals has fallen to 444 this year from last year's 508 deals as the average deal size during the current year reported an increase.

The average deal size has been USD 282 million so far this year, a 43 per cent increase from USD 197 million in 2007, Dealogic added.