India Infoline Housing Finance, the housing finance arm of India Infoline plans to raise up to Rs 500 crore through public issue of 11.52% secured, redeemable Non-Convertible Debentures (NCDs).
The greenshoe option is up to Rs 250 crore. These NCDs have a monthly option and will be issued for a period of 5 years.
The yield on the NCD works out to 12.15%. These NCDs are secured against home and mortgage receivables.
The issue opens on December 12. "This is the fourth issue from our group in the last 3 years. All our earlier issues have met with overwhelming response and customer's trust. In the corporate bond market the brand is well accepted and has an impeccable track record," said Nirmal Jain, chairman, India Infoline.
The bonds are rated "AA-" by rating agencies.
