Indiabulls offers to early redeem debentures with near-term maturities

By Marisa Wong

Los Angeles, Oct. 9 – Indiabulls Housing Finance Ltd. is making an early redemption offer to all holders of its non-convertible debentures maturing up to March 31, 2024, according to a notice.

The company’s asset liability management committee has decided to acquire debentures maturing until March 31, 2024 on the exchange under negotiated trades with debentureholders and hold them as treasury stock until maturity.

The company reported that since September 2018 it has repaid about Rs. 1.64 trillion on gross basis and roughly Rs. 855 billion on net basis. At the end of September, the company’s borrowings stood at about Rs. 350 billion, and its net debt to equity was 1.7x.

Regarding purchase of bonds, bondholders can get in touch with Sandipan Amboli (sandipan.amboli@indiabulls.com) at any time prior to Oct. 15 to effect the trade.

Indiabulls is a Mumbai-based real estate company.

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