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Home / Companies / News /  Indiabulls Housing says it has repaid 7,075.8 cr NCDs to investors in September
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MUMBAI : Indiabulls Housing Finance Ltd on Friday said it has repaid 7,075.84 crore of non-convertible debentures (NCDs) to its investors in September.

The repayments comprised 6,575.84 crore of public issue of NCDs by IBH and ICCL (100% subsidiary of IBH) in September 2016 and September 2018, respectively, and 500 crore of NCDs issued by IBH in September 2011. The public NCDs were repaid ahead of their scheduled repayment dates, it said.

“IBH has a fully matched asset liability management (ALM) with significant positive cash at the end of each period. The company, from time to time, utilizes its liquidity buffers to repay its liabilities ahead of schedule to give comfort to its stakeholders, especially lenders and rating agencies," it said.

For its May 2022 maturity of $350 million bonds, the company has voluntarily created a reserve fund, wherein the company will periodically transfer a sum totalling 75% of the total maturity proceeds of these bonds, in three tranches of 25% each, to a debt repayment trust, managed by IDBI Trustee, it added.

IBH said it has already transferred the first tranche in August 2021, and the next two tranches will be transferred in November 2021 and February 2022.

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