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Indiabulls Housing Finance has raised $350 million via the issue of dollar-denominated, senior secured social bonds at 9.70 per cent interest.
The proceeds from this bond issue will be utilised for onward lending as may be permitted under the ECB Guidelines and in accordance with the Company’s sustainable financing framework, the lender said in a notification to the exchanges.
The over three-year bonds are set to mature in July 2027. They will be listed on the Global Securities Market (GSM) of the India International Exchange (IFSC).
The company said it has entered into ‘subscription agreements’ with Barclays Bank PLC, CLSA Limited, Deutsche Bank AG, Singapore Branch, Elara Capital PLC, Emirates NBD Bank PJSC and Nuvama Financial Services (UK) Limited and UBS AG Singapore Branch.
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