 "investment, mutual fund, debenture, money, growth, income")
India Infoline Finance (IIFL) plans to issue non-convertible debentures (NCDs) worth Rs 50 billion, to raise money for the long term.
It has become important for finance companies to have long-tenor funds at hand to manage liquidity and also meet repayment obligations for short-term financial instruments.
Rating agency Icra has assigned a rating of ‘AA-stable’ for the NCDs. The agency has said the group (IIFL) has relatively high reliance on short-term commercial papers (34 per cent as on end-June). Its ability to generate enough liquidity to refinance its short-term borrowing in the current environment will have to be watched.
Icra has a rating
