By Sarah Lizee
Olympia, Wash., Nov. 2 – IndoStar Capital Finance Ltd. informed the Bombay Stock Exchange that the debenture committee of its board of directors approved and allotted Rs. 2.5 billion of secured redeemable nonconvertible debentures due 2021.
The 2,500 series XXXI debentures were issued on a private placement basis.
The rated and unlisted debentures will bear interest at the benchmark rate plus a spread of 225 basis points, for an annual rate of 10¾%.
IndoStar Capital is a Mumbai-based non-banking financial credit company.
| Issuer: | IndoStar Capital Finance Ltd.
|
| Issue: | Secured redeemable nonconvertible debentures
|
| Amount: | Rs. 2.5 billion
|
| Tenor: | 1,096 days
|
| Maturity: | Nov. 2, 2021
|
| Coupon: | 10¾%, payable monthly
|
| Spread: | Benchmark rate plus 225 bps
|
| Allotment date: | Nov. 2
|
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