Indiabulls Housing to prepay bonds worth Rs 1,000 cr
"This is in line with the company's proactive approach to asset liability management where we maintain high liquidity buffers and create pools of ear-marked funds to pre-pay chunky borrowings coming due.
By ET Bureau | Updated:
Agencies
Mumbai: Indiabulls Housing Finance is pre-paying ₹1,000 crore bonds which were due next quarter as it reduces its extra liquidity.
The bonds carried a coupon rate of 8.1% and are overseen by IDBI Trusteeship Services. Indiabulls is buying back the bonds held by Yes Bank and ICICI Prudential Life Insurance among other investors.
"This is in line with the company's proactive approach to asset liability management where we maintain high liquidity buffers and create pools of ear-marked funds to pre-pay chunky borrowings coming due.
The bonds which were otherwise due next quarter are being pre-paid next week on December 16, 2022," a person familiar with the company's plans said.
The bonds carried a coupon rate of 8.1% and are overseen by IDBI Trusteeship Services. Indiabulls is buying back the bonds held by Yes Bank and ICICI Prudential Life Insurance among other investors.
"This is in line with the company's proactive approach to asset liability management where we maintain high liquidity buffers and create pools of ear-marked funds to pre-pay chunky borrowings coming due.
The bonds which were otherwise due next quarter are being pre-paid next week on December 16, 2022," a person familiar with the company's plans said.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
