By Tali Rackner
Norfolk, Va., July 25 – Capital First Ltd. informed the Bombay Stock Exchange that its board of directors approved an issue of Rs. 250 million of 10-year redeemable, transferrable, unsecured nonconvertible subordinated debentures.
The 9.24% debentures, which will be rated and listed, will be issued in a private placement at a price of Rs. 1 million each.
There is a greenshoe for an additional Rs. 250 million.
The issue was approved at board meeting held Monday.
The notes will be listed on the wholesale debt segment of the National Stock Exchange of India Ltd.
Capital First is a Mumbai-based consumer and wholesale business financial services provider.
| Issuer: | Capital First Ltd.
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| Issue: | Redeemable, transferrable, unsecured nonconvertible subordinated debentures
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| Amount: | Rs. 250 million
|
| Greenshoe: | Rs. 250 million
|
| Tenor: | 10 years
|
| Coupon: | 9.24%
|
| Approval date: | July 25
|
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