By Tali Rackner
Norfolk, Va., June 1 – Indiabulls Housing Finance Ltd. informed the Bombay Stock Exchange that it priced Rs. 600 million of secured redeemable nonconvertible debentures in two tranches.
The debentures were issued with a face value of Rs. 1 million each in a private placement under a board authorization dated April 25, according to a notice.
The company sold Rs. 500 million of zero-coupon debentures due Sept. 3, 2019 and Rs. 100 million of 9% debentures due May 29, 2021.
The total amount includes a Rs. 50 million over-allotment option.
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. 600 million
|
| Allotment date: | June 1
|
|
|
| Tranche 1
|
| Amount: | Rs. 500 million
|
| Maturity: | Sept. 3, 2019
|
| Tenor: | 1,189 days
|
| Coupon: | None (implicit yield 9%)
|
|
|
| Tranche 2
|
| Amount: | Rs. 100 million
|
| Maturity: | May 29, 2021
|
| Tenor: | Five years
|
| Coupon: | 9%
|
|
|
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