Indiabulls plans Rs. 1.35 billion 8.85% three-year, 9% 10-year notes

By Susanna Moon

Chicago, April 20 – Indiabulls Housing Finance Ltd. notified the Bombay Stock Exchange that it plans to issue Rs. 1.35 billion of secured redeemable debentures under two separate options.

The company is offering 8.85% three-year notes and 9% 10-year notes.

The 1,350 debentures with a face value of Rs. 1 million each will be sold in a private placement, according to a company notice.

The issue will remain open from April 25 and April 29.

The placement was approved by shareholders at a meeting held Sept. 7.

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

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