By Susanna Moon
Chicago, Aug. 19 – Indiabulls Housing Finance Ltd. notified the Bombay Stock Exchange that it will issue up to Rs. 35 billion of secured redeemable debentures with an over-allotment option for another Rs. 35 billion.
The debentures will be issued with a par value of Rs. 1,000 each in a private placement, according to the notice.
The issue was approved at a board meeting held Friday.
In a separate notice, the company said it will issue up to Rs. 7 billion of five-year secured redeemable debentures in a private placement with a coupon of 8.55% to 8.8%.
In that issue, the company is planning to sell up to 7,000 debentures on Aug. 23.
Indiabulls is a Mumbai-based real estate company.
Five-year bonds
| Issuer: | Indiabulls Housing Finance Ltd.
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| Issue: | Secured redeemable debentures
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| Amount: | Rs. 7 billion
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| Coupon: | 8.55% to 8.8%
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| Issue date: | Aug. 23
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