India’s Indiabulls plans to issue Rs. 850 million secured debentures

By Wendy Van Sickle

Columbus, Ohio, April 7 – Indiabulls Housing Finance Ltd. is proposing to issue Rs. 850 million of secured nonconvertible redeemable debentures, according to a Bombay Stock Exchange notice.

The 850 debentures will have a face value of Rs. 1 million each and will be issued on a private placement basis in a three-year tranche with an 8.95% coupon and in five- and 10-year tranches, each with a 9% coupon.

Indiabulls Housing Finance is a Mumbai-based housing financial company that provides home loans, loans against properties and commercial vehicle loans primarily to salaried and self-employed sectors in India.

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