Moneycontrol
Aug 02, 2011 07:28 PM IST | Source: Moneycontrol.com

IIFL follows league, announces Rs 750 cr NCD issue

In a bid to expand its loan book, India Infoline Investment Services, an NBFC subsidiary of India Infoline (IIFL), is going to raise Rs 750 crore through an issuance of non-convertible debentures.

IIFL follows league, announces Rs 750 cr NCD issue

Moneycontrol Bureau


In a bid to expand its loan book, India Infoline Investment Services, an NBFC subsidiary of India Infoline (IIFL), is going to raise Rs 750 crore through an issuance of non-convertible debentures (NCD), including an oversubscription option of Rs 375 crore.


An NCD is a type of loan issued by a company that cannot be converted into stock and usually carries a higher interest rate than a convertible debenture.


Meanwhile, the issue offers a coupon rate in the range of 11.70% -11.90% with three tenures--- ranging from three years, forty months and five years as redemption date.

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