India’s Indiabulls intends to issue Rs. 1 billion of nonconvertibles

By Tali Rackner

Norfolk, Va., March 15 – Indiabulls Real Estate Ltd. said it plans to issue Rs. 1 billion of secured redeemable nonconvertible debentures, according to a term sheet.

The debentures will have a tenor of one to five years and feature a Rs. 500 million greenshoe.

The company will issue the debt in one or more tranches on a private placement basis.

Indiabulls is a Mumbai, India-based real estate company.

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