Indiabulls Housing repays $148.71 million of convertible bonds

By Mary-Katherine Stinson

Lexington, Ky., March 4 – Indiabulls Housing Finance Ltd. said it repaid about $148.71 million of foreign currency convertible bonds issued in March 2021, according to a company announcement.

With this repayment, the company has repaid $3.23 billion of senior foreign currency debt.

The company has repaid about Rs. 1,66,750 on a gross basis and about Rs. 85,300 from September 2018 to December on a net basis. This is an average of Rs. 31,760 on gross basis and Rs. 16,250 on net basis per year.

The company also noted that net gearing reduced to about 1.5x from 7x levels.

Indiabulls continues to focus on maintaining a fortress balance sheet through strong capital adequacy, high provisions and high liquidity buffer, according to the announcement.

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

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