India Infoline Home Finance launches Rs 200 crore NCD issue
Mar 11, 2014
Source : Business Standard

 

MUMBAI: India Infoline Housing Finance (IIFL) launched a non-convertible debenture (NCD) issue today to raise upto Rs 200 crore in a six-year debt offering up to Rs 12.68 per cent yield.

The issue of unsecured redeemable non-convertible debentures is eligible for tier-II capital of the company, it said in a statement.

IIFL Chairman S Sridhar said that it would focus on the growing home loan and mortgage assets while keeping a close eye on the quality of assets. The NCD issue would further enable the company improve its asset profile and strengthen its capital base.

IIFL Group Managing Director R Venkataraman said that as part of prudent asset allocation, investors should have exposure to fixed income. This issue offers attractive options for retail investors seeking regular cash flows.

Last year, the company had mobilised Rs 1,050 crore from an NCD issue, making it the largest public bond issue by a private issuer in the past four years. Prior to that, it had mobilised Rs 500 crore in a maiden debt issue.

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