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Edelweiss Housing Finance on Thursday announced the public issue of secured redeemable non-convertible debentures (NCDs), offering an effective yield up to 9.70 per cent per annum to investors.
The NCDs, which will be open for subscription between April 6 and 22, has a base issue size of ₹150 crore, with an option to retain oversubscription up to ₹150 crore, aggregating up to ₹300 crore.
There are ten series of NCDs carrying fixed coupon and having tenure of 24 months, 36 months, 60 months and 120 months with annual, monthly and cumulative interest option. The NCDs have been rated ‘AA-’ by both CRISIL Ratings, and Acuite Ratings and Research.
At least 75 per cent of the funds raised will be used for onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings and the balance is proposed to be utilised for general corporate purposes.
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