By Susanna Moon
Chicago, May 23 – Indiabulls Housing Finance Ltd. notified the Bombay Stock Exchange that it priced Rs. 800 million of secured redeemable debentures in two tranches, including a greenshoe exercise for Rs. 300 million of notes.
The company sold Rs. 250 million of 9% debentures due May 10, 2021 and Rs. 550 million of zero-coupon debentures due Oct. 3, 2017 with an implicit yield of 9%.
The debentures were issued in a private placement under a board authorization dated Jan. 25, according to a notice.
Indiabulls is a Mumbai, India-based real estate company.
| Issuer: | Indiabulls Housing Finance Ltd.
|
| Issue: | Secured redeemable nonconvertible debentures
|
| Amount: | Rs. 800 million
|
| Announcement date: | May 23
|
|
|
| Tranche 1
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| Amount: | Rs. 250 million
|
| Maturity: | May 21, 2021
|
| Coupon: | 9%
|
|
|
| Tranche 2
|
| Amount: | Rs. 550 million
|
| Maturity: | Oct. 3, 2017
|
| Coupon: | Zero coupon with implicit yield of 9%
|
|
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