By Tali Rackner
Norfolk, Va., May 10 – Indiabulls Housing Finance Ltd. informed the Bombay Stock Exchange that it priced Rs. 500 million of secured redeemable nonconvertible debentures in two tranches.
The company sold Rs. 250 million of 9% debentures due May 10, 2021 and Rs. 250 million of 9% debentures due May 8, 2026.
The debentures were issued with a face value of Rs. 1 million each in a private placement under a board authorization dated Jan. 25, according to a notice.
The debentures will be listed on the National Stock Exchange of India Ltd. and the Bombay Stock Exchange Ltd.
Indiabulls is a Mumbai, India-based real estate company.
| Issuer: | Indiabulls Housing Finance Ltd.
|
| Issue: | Secured redeemable nonconvertible debentures
|
| Amount: | Rs. 500 million
|
| Allotment date: | May 10
|
|
|
| Tranche 1
|
| Amount: | Rs. 250 million
|
| Maturity: | May 10, 2021
|
| Tenor: | Five years
|
| Coupon: | 9%
|
|
|
| Tranche 2
|
| Amount: | Rs. 250 million
|
| Maturity: | May 8, 2026
|
| Tenor: | Ten years
|
| Coupon: | 9%
|
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