Indiabulls to sell up to Rs. 1.6 billion bonds with 8.65%-8.78% coupon

By Marisa Wong

Morgantown, W.Va., Aug. 17 – Indiabulls Housing Finance Ltd. informed the Bombay Stock Exchange that it plans to issue up to Rs. 1.6 billion of secured non-convertible redeemable debentures on a private placement basis. The offering includes a greenshoe.

The three-year debentures, each with a face value of Rs. 100,000, will carry a coupon of 8.65% to 8.78%.

The deal is expected to close on Wednesday.

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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