Indiabulls Financial talks dollar five-year notes in 10¼% area

By Christine Van Dusen

Atlanta, Nov. 6 – India’s Indiabulls Financial Services Ltd. set talk in the 10¼% area for a dollar-denominated offering of benchmark-sized notes due in five years (expected ratings: B1/B+/B+), a market source said.

Deutsche Bank is the bookrunner for the Regulation S deal.

The proceeds will be used to refinance debt and for general corporate purposes.

The notes will be issued by wholly owned subsidiary Century Ltd.

Indiabulls Financial Services is a retail financial services company based in New Delhi.

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