India's Capital First seals Rs. 1 billion of Rs. 4.5 billion bonds

By Toni Weeks

San Luis Obispo, Calif., March 20 - Capital First Ltd. informed the Bombay Stock Exchange that it raised Rs. 1 billion in the second tranche of an approved Rs. 4.5 billion issue of secured redeemable nonconvertible debentures on Wednesday. The company issued 1,000 debentures, each with a face value of Rs. 1 million.

As previously noted, the company's board of directors approved on Feb. 8 the issue of up to Rs. 4.5 billion of the debentures and up to Rs. 1 billion of unsecured redeemable nonconvertible subordinated debentures in one or more tranches on a private placement basis.

The debentures will be listed on the National Stock Exchange of India Ltd.

Capital First is based in Mumbai.

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