Indiabulls’ Century tenders for $40 million 10¼% notes due 2019 at par

By Susanna Moon

Chicago, March 21 – Century Ltd. is tendering for up to $40 million maximum of its $175 million 10¼% senior notes due Nov. 12, 2019 guaranteed by Indiabulls Real Estate Ltd., the parent company.

Century is offering to pay par for each $1,000 principal amount plus accrued interest up to but excluding the settlement date of April 8.

The tender offer will be open to holders until 11 a.m. ET on April 1.

As of March 21, $101.88 million of the notes was beneficially owned by the issuer and will not be tendered under the offer.

The offer is being made in order “to manage and better optimize the issuer’s and the parent guarantor’s debt maturity and repayment schedule,” according to a company notice.

The offer also allows for holders to gain liquidity that might not otherwise be available, the release noted.

Deutsche Bank AG, Singapore Branch (+65 6423 5934, +44 0 207 545 8011 or liability.management@db.com) is the dealer manager. Lucid Issuer Services Ltd. (+ 44 20 7704 0880, Thomas Choquet / David Shilson, or indiabulls@lucid-is.com).

Indiabulls Housing Finance is a Mumbai-based housing finance company that provides home loans, loans against properties and commercial vehicle loans primarily to salaried and self-employed sectors in India.

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