Piramal Capital raises $300 million via maiden dollar bonds: IFR

India's Piramal Capital and Housing Finance has raised $300 million by issuing its debut sustainability bonds maturing in three years and six months at 7.95%, IFR, a Thomson Reuters publication, reported late Monday.

The final coupon on these Regulation-S bonds was inside the initial guidance of 8.25%, IFR reported, quoting people with knowledge of the transaction.

The company, a wholly-owned subsidiary of non-banking financial firm Piramal Enterprises, received bids of more than $1 billion, including $90 million from lead bankers.


The bonds are expected to be rated Ba3 by Moody's and BB- by S&P.

Deutsche Bank, Barclays and Standard Chartered were joint global coordinators, as well as joint bookrunners with Axis Bank, Citigroup and Emirates NBD Bank.