India Infoline Housing Finance to raise Rs 500 crore via bonds

India Infoline Housing Finance (IIHFL) said on Wednesday that it is raising Rs 500 crore through sale of non-convertible debentures (NCD) maturing in five years and offering a yield of 12.15 per cent per annum.

 

The bond issue, which includes Rs 250 crore of greenshoe option, will open for subscription on December 12 and close on December 20, the housing finance company said in a release.

 

The bond, with a face value of Rs 1,000 each, will offer a coupon of 11.52 per cent per annum payable every month, it said.

 

The company said the bonds, to be listed on BSE and NSE, will not carry any put or call option.

 

The issue has been rated 'AA-/Stable' by Crisil and 'AA-' by CARE. The ratings indicate a high degree of safety and very low credit risk.