Repco board to decide on raising $40 mn from IFC

Repco Home Finance today said its Board will meet next week to consider a proposal to raise USD 40 million (about Rs 270 crore) by issuing debentures to World Bank arm IFC.
"A meeting of the Board of Directors of the company will be held on February 13, 2017, inter alia, to consider the proposal to raise USD 40 million by issue of secured, redeemable, non-convertible, non-cumulative, taxable debentures (SRNCD) to International Finance Corporation," the company said in a regulatory filing.
Repco Home Finance said tenor of debentures will be 7 years and coupon rate will known close to disbursement.

The company's stock was trading 2.03 per cent lower at Rs 745 apiece on BSE.