IL&FS to raise Rs 200 crore bond for 10 years at 9.82%

Financial institution, IL&FS today tapped the private placement market to raise 10 year bond for 9.82%. The company plans to raise Rs 200 crore, money market deals said.

The company has received a AAA rating from rating agency Icra.

The issue is priced 167 basis points over the 10-years government securities. The 10-year benchmark paper - 8.79% maturing in 2021 - was traded at around 8.15% on Friday.

IL&FS key shareholders include Life Insurance Corporation with 26.2% stake followed by ORIX Corporation of Japan with 23.8% stake.