Capital First to raise Rs 700 crore through bonds

Bond comes with 2 options, tenure of 3 years and 5 years with coupon rate of 8.35% and 8.40%

Non-banking financial company Capital First on Wednesday said it will raise Rs 700 crore through non-convertible debentures to fund business growth.

The board in its meeting held on Wednesday "approved an issue of rated, listed, secured, redeemable, non-convertible debentures of Rs 500 crore plus green shoe option of Rs 200 crore on private placement basis", Capital First said in a regulatory filing to stock exchanges.

The bond comes with two options — tenure of three years and five years with coupon rate of 8.35 per cent and 8.40 per cent, respectively.