By Susanna Moon
Chicago, Sept. 8 – Indiabulls Housing Finance Ltd. notified the Bombay Stock Exchange that it plans to issue Rs. 13.3 billion of 8.567% affordable housing masala bonds due 2019.
Yes Bank, Axis Bank, Merrill Lynch, Nomura, Credit Suisse and Citibank are the bookrunners and lead managers.
Proceeds will be used for the issuer’s housing finance business, particularly for loans for affordable housing, as well as for general corporate purposes.
The issue carries the “highest AAA credit rating,” according to a notice.
The bonds will be listed on the Singapore Stock Exchange.
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.
| Issuer: | Indiabulls Housing Finance Ltd.
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| Issue: | Affordable housing masala bonds
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| Amount: | Rs. 13.3 billion
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| Maturity: | Oct. 15, 2019
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| Coupon: | 8.567%
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| Bookrunners: | Yes Bank, Axis Bank, Merrill Lynch, Nomura, Credit Suisse and Citibank
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| Announcement date: | Sept. 7
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| Rating: | AAA
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