Capri Global eyes up to $500 million offshore bond issue

Mumbai: Capri Global Capital is set to tap the overseas bond market for the first time with an estimated $300-500 million issue, multiple sources told ET, joining a growing list of Indian non-banking finance companies (NBFC) that are harnessing regulatory incentives on external borrowing to raise funds overseas.

The NBFC has mandated Barclays, Citigroup, Deutsche Bank, Emirates NBD and UBS to arrange investor meetings across Asia, Europe and US beginning Tuesday.

The proposed senior secured notes will have a weighted average life of about 3.25 years, according to sources. The fund raise will be part of the benchmark-sized issuance under its existing $1 billion Global Medium Term Note programme, a source said.