Edelweiss ARC to raise Rs 500 cr via debentures

Edelweiss Asset Reconstruction Company Limited (EARC) is raising Rs 500 crore through debentures to fund business growth.

EARC, the largest player in the distressed credit business, has a capital of Rs 5,133 crore. The assets under management stood at Rs 41,680 crore.  

ICRA has assigned “AA” for the principal protected market-linked debentures. The outlook on the rating is stable. The debentures would have a scheduled tenor of up to 10 years from the deemed date of allotment.  

Coupon amount would be payable on the PP-MLDs on maturity date. They would be backed by a guarantee by Edelweiss Financial Services Limited.

CDPQ, one