IIFL Home Finance NCD to open on 6 July; close 28 July1 min read . Updated: 06 Jul 2021, 01:55 PM IST
- Tranche one issue includes a base issue size for ₹100 crore with a greenshoe of up to ₹900 crore, aggregating up to ₹1,000 crore
MUMBAI : IIFL Home Finance Ltd's non-convertible debenture issue will open on 6 July and close on 28 July. The issue, which has been rated AA, will offer an effective yield in the range of 9-10%.
Tranche one issue includes a base issue size for ₹100 crore with a greenshoe of up to ₹900 crore, aggregating up to ₹1,000 crore. The total shelf size/shelf limit is at ₹5000 crore, IIFL Home said in a release.
"Net proceeds of the issue will be utilized for the purpose of onward lending, financing, and for repayment /prepayment of interest and principal of existing borrowings of our Company and balance will be utilised for General Corporate Purposes," IIFL Home said.
As on 31 March, its CRAR – Tier I capital, in accordance with the Reformatted Financial Statements, was at 19.61%.
The unsecured NCDs bear a fixed rate of interest under three different series and have been rated AA/Stable by Crisil. 'BWR AA+/ Negative (Assigned)' indicates that instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.
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