By Tali Rackner
Norfolk, Va., Aug. 23 – Indiabulls Housing Finance Ltd. informed the Bombay Stock Exchange that it has allotted Rs. 32 billion of secured redeemable nonconvertible debentures, according to a notice.
The three-year debentures will be issued in two parts: Rs. 16 billion initially and Rs. 16 billion in one year. They are being issued with a face value of Rs. 1 million each in a private placement under a board authorization dated April 25.
The coupon is 8.65% for the first year and 8.78% for the second and third years.
The debentures will be listed on the National Stock Exchange of India Ltd. and the BSE Ltd.
Indiabulls is a Mumbai-based real estate company.
| Issuer: | Indiabulls Housing Finance Ltd.
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| Issue: | Secured redeemable nonconvertible debentures
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| Amount: | Rs. 32 billion (Rs. 16 billion initially, Rs. 16 billion after one year)
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| Coupon: | 8.65% in year one, 8.78% in years two and three
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| Maturity: | Aug. 22, 2019
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| Allotment date: | Aug. 22
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