By Sarah Lizee
Olympia, Wash., June 8 – IndoStar Capital Finance Ltd. informed the Bombay Stock Exchange that the debenture committee of its board of directors approved and allotted Rs. 750 million of secured redeemable nonconvertible debentures due 2021.
The 750 series XXIX debentures were issued on a private placement basis.
The rated and listed debentures will bear interest at the one-year MCLR rate of the State Bank of India plus 110 basis points for the first year. After that, the spread will be decided based on the spread reset mechanism. The spread cannot be negative.
The debentures will be listed on the wholesale debt market segment on the BSE Ltd.
IndoStar Capital is a Mumbai-based non-banking financial credit company.
| Issuer: | IndoStar Capital Finance Ltd.
|
| Issue: | Secured redeemable nonconvertible debentures
|
| Amount: | Rs. 750 million
|
| Tenor: | 1,093 days
|
| Maturity: | June 4, 2021
|
| Coupon: | One-year MCLR SBI rate plus 110 bps; resets after first year; payable monthly
|
| Allotment date: | June 7
|
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