By Wendy Van Sickle
Columbus, Ohio, April 13 – Capital First Ltd.’s board of directors’ debenture committee approved a Rs. 1.5 billion issue of secured redeemable nonconvertible debentures with a Rs. 3.5 billion greenshoe on Thursday, according to a Bombay Stock Exchange notice.
The debentures have four options. Option I has a two-year tenor and an 8.2% coupon, Option II has a three-year tenor and an 8.35% coupon. Option III has a five-year tenor and an 8.4% coupon. Option IV has a seven-year tenor and an 8.45% coupon.
The debentures, which will be rated and listed, will be issued in a private placement.
Capital First is a Mumbai, India-based consumer and wholesale business financial services provider.
| Issuer: | Capital First Ltd.
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| Issue: | Secured redeemable nonconvertible debentures
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| Amount: | Rs. 1.5 billion
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| Greenshoe: | Rs. 3.5 billion
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| Approval date: | April 13
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| Option I
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| Maturity: | April 12, 2019
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| Coupon: | 8.2%
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| Option II
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| Maturity: | April 13, 2020
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| Coupon: | 8.35%
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| Option III
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| Maturity: | April 13, 2022
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| Coupon: | 8.4%
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| Option IV
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| Maturity: | April 12, 2024
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| Coupon: | 8.45%
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