Published on 3/25/2022 in the Prospect News Emerging Markets Daily.
New Issue: Indiabulls Housing to issue secured debentures in eight parts
By Rebecca Melvin
Concord, N.H., March 25 – Indiabulls Housing Finance Ltd. announced that it has approved the issuance of Rs. 1 billion of secured redeemable non-convertible debentures (Crisil: AA/Brickwork: AA+) in eight series.
There is an oversubscription option for up to Rs. 9 billion of debenture issuance. Series 1, 2 and 3 will mature in two years. Series 4, 5 and 6 will mature in three years and series 7 and 8 will mature in five years.
Edelweiss Financial Services Ltd., IIFL Securities Ltd. and Trust Investment Advisors Private Ltd. were the lead managers.
The debentures will be listed on the BSE Ltd. and National Stock Exchange of India Ltd.
The company provides financing for commercial vehicles and is based in Mumbai.
| Issuer: | Indiabulls Housing Finance Ltd.
|
| Issue: | Secured redeemable nonconvertible debentures
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| Amount: | Rs. 1 billion, with oversubscription option for up to Rs. 9 billion
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| Lead managers: | Edelweiss Financial Services Ltd., IIFL Securities Ltd. and Trust Investment Advisors Private Ltd.
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| Closing date: | April 22
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| Ratings: | Crisil: AA
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| Brickwork: AA+
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| Series I
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| Coupon: | 8.35% to 8¾%, dependent on category
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| Tenor: | Two years
|
|
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| Series II
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| Coupon: | 8.35% to 8¾%, dependent on category
|
| Tenor: | Two years
|
|
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| Series III
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| Coupon: | 8.05% to 8¾%, dependent on category
|
| Tenor: | Two years
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|
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| Series IV
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| Coupon: | 8½% to 8.99%, dependent on category
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| Tenor: | Three years
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| Series V
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| Coupon: | 8½% to 9%, dependent on category
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| Tenor: | Three years
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| Series VI
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| Coupon: | 8.2% to 9.01%, dependent on category
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| Tenor: | Three years
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| Series VII
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| Coupon: | 8¾% to 9.24%, dependent on category
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| Tenor: | Five years
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| Series VIII
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| Coupon: | 8.43% to 9.26%, dependent on category
|
| Tenor: | Five years
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