IIFL Finance's Rs 1,000 crore NCD issue to open on Tuesday
Crisil has rated the instrument as AA/Stable.
By ETMarkets.com |
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MUMBAI: IIFL Finance will launch a public issue of bonds on Tuesday, to raise up to Rs 1,000 crore, offering up to 10.50 per cent yield.
The non-banking finance company (NBFC) will issue secured and unsecured redeemable non-convertible debentures, totalling Rs 100 crore, with a greenshoe option to retain oversubscription up to Rs 900 crore.
The IIFL debentures will offer yield of 10.50 per cent per annum for the tenor of 69 months. It will offer 10 per cent per annum yield for a shorter tenor of 15 months in the secured category.
The bonds have monthly, quarterly, and annual payment frequency along with zero coupon bonds. The other tenor offered is 39 months for secured category.
Crisil has rated the instrument as AA/Stable.
The lead managers to the issue are Edelweiss Financial Services, IIFL Securities, ICICI Securities, and Trust Investment Advisors.
The non-banking finance company (NBFC) will issue secured and unsecured redeemable non-convertible debentures, totalling Rs 100 crore, with a greenshoe option to retain oversubscription up to Rs 900 crore.
The IIFL debentures will offer yield of 10.50 per cent per annum for the tenor of 69 months. It will offer 10 per cent per annum yield for a shorter tenor of 15 months in the secured category.
The bonds have monthly, quarterly, and annual payment frequency along with zero coupon bonds. The other tenor offered is 39 months for secured category.
Crisil has rated the instrument as AA/Stable.
The lead managers to the issue are Edelweiss Financial Services, IIFL Securities, ICICI Securities, and Trust Investment Advisors.
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