Indiabulls Housing announces allotments for eight series of bonds

Chicago, Sept. 28 – Indiabulls Housing Finance Ltd. announced the allotment results from the public sale of secured redeemable non-convertible bonds, according to a press release.

The company approved allotment of Rs. 1,031,133,000 bonds, par value Rs. 1,000 each.

As announced and reported at the end of August, the company was planning to issue Rs. 1 billion with an overallotment option.

Three of the eight series have 24-month tenors. The coupon varies whether it is annual, cumulative or monthly. It ranges from 8.33% to 9.05%.

The next three series have three-year tenors and the coupon is also based on whether it is annual, cumulative or monthly. The coupon ranges from 8.47% to 9.3%.

The last two series are five-year bonds, and payment of the coupon is either annual or monthly. The coupon is between 8.7% to 9.55%.

Additionally, the coupon rate steps up 25 basis points for investors of existing bonds and shareholders in certain cases.

No bonds were allotted to the first category, which had the lowest coupons.

Indiabulls is a Gurugram, India-based real estate company.

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