Capital First to raise Rs 700 cr through bonds

Non-banking financial company Capital First today said it will raise Rs 700 crore through non-convertible debentures to fund business growth.

The board in its meeting held today "approved an issue of rated, listed, secured, redeemable, non-convertible debentures of Rs 500 crore plus green shoe option of Rs 200 crore on private placement basis", Capital First said in a regulatory filing to stock exchanges.

The bond comes with two options -- tenure of three years and five years with coupon rate of 8.35 per cent and 8.40 per cent, respectively.