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Edelweiss Retail Finance Ltd (ERFL), the retail lending arm of Edelweiss Group, on Wednesday announced a public issue of non-convertible debentures (NCDs) of face value Rs 1,000 each, aggregating Rs 250 crore, with an option to retain over-subscription up to Rs 250 crore, aggregating a total of Rs 500 crore.
The NCDs offer investors yields ranging from 8.75 per cent to 9.25 per cent. The NCDs also offer a tenure varying from 3 to 10 years, with an option to receive monthly or annual interest. The issue opens on March 7, 2018 and closes on March 22, 2018, with an option to close early if it receives complete subscription. The NCDs will be listed on BSE Ltd and the National Stock Exchange of India Ltd.
Edelweiss, in a statement, said the NCDs to be issued have received “CRISIL AA/Stable” rating by CRISIL Ltd and “[ICRA]AA” rating with a stable outlook by ICRA Ltd, for an amount of Rs 500 crore each, indicating that the instruments have the highest degree of safety regarding timely servicing of financial obligations, and carry low credit risk.
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