Indiabulls plans up to Rs. 70 billion debentures in multiple tranches

By Susanna Moon

Chicago, Sept. 26 – Indiabulls Real Estate Ltd. notified the Bombay Stock Exchange that it plans to price Rs. 35 billion of secured redeemable debentures and unsecured redeemable debentures, with a Rs. 35 billion over-allotment option.

The coupon will be set based on the various options available, according to the notice.

For the three-year notes, the coupon options are 8.55%, 8.65% and 8.7%. For the five-year notes, the coupon options are 8.75% and 8.9%. For the 10-year notes, the coupon options are 8.51%, 8.65%, 8.85% and 9%. For the other 10-year notes, the coupon options are 8.65%, 8.79%, 9% and 9.15%.

The notes will be issued with a face value of Rs. 1,000 each.

The issue was approved at the company’s board meeting held Monday.

Indiabulls is a Mumbai-based real estate company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.