By Angela McDaniels
Tacoma, Wash., May 21 – Indiabulls Housing Finance Ltd. priced $350 million of three-year senior secured notes (Ba1//), according to a letter to BSE Ltd. and National Stock Exchange of India Ltd.
The coupon is 6 3/8%, payable semiannually (6.29% nominal monthly).
The notes will be secured by a first ranking pari passu charge over all current and future assets and loan assets of the company.
The notes will be listed on Singapore Exchange Securities Trading Ltd.
The notes are being issued under the company’s $1.5 billion secured euro medium-term note program.
The company’s board of directors approved the issue on Tuesday.
Indiabulls is a Gurugram, India-based real estate company.
| Issuer: | Indiabulls Housing Finance Ltd.
|
| Issue: | Senior secured notes
|
| Amount: | $350 million
|
| Maturity: | May 28, 2022
|
| Coupon: | 6 3/8%
|
| Price: | Par
|
| Yield: | 6 3/8%
|
| Pricing date: | May 21
|
| Settlement date: | May 28
|
| Rating: | Moody’s: Ba1
|
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