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DHFL pays interest and principal of Rs 832 crore to bond investors

These non-convertible debentures were issued on a private placement basis, DHFL said in a statement

Abhijit Lele  |  Mumbai 

DHFL

Dewan Housing Finance Company (DHFL) has paid interest and principal amount, aggregating Rs 832 crore, to investors on debentures on Tuesday.

These non-convertible debentures were issued on a private placement basis, said in a statement.

Meanwhile, rating agency Icra downgraded the rating for DHFL’s Rs 850-crore commercial paper (CP) from “A2+” to “A3+” on further deterioration in the company’s liquidity profile. The rating continues to be on watch with negative implications.

The liquidity profile has deteriorated, owing to delays in the sale of the project loan book, as well as the lack of fresh on-book funding in the last three months.

raised around Rs 16,000 crore through securitisation and Rs 3,825 crore in the form of market borrowings and bank lines between September 24, 2018 and March 31, 2019. These funds were largely utilised towards debt repayments, it added.

First Published: Wed, May 01 2019. 02:29 IST
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