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ECL Finance announces public issue of NCDs aggregating Rs 1000 cr

Capital Market 

NBFC arm, ECL (subsidiary of Edelweiss Financial Services) announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs. 1,000 each, aggregating to Rs. 250 crore, with an option to retain over-subscription up to Rs. 750 crore aggregating to a total of Rs. 1000 crore.

The offer an effective yield of 10.20% p.a. for 39 months tenure, 10.42% p.a. for 60 months tenure and 10.64% for 120 months tenure.

The funds raised through this Issue will be used for purpose of onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings of the Company and for general corporate purpose.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 14:16 IST