Indiabulls Commercial Credit Ltd issues NCDs with coupon rates up to 10.30% per annum.

Indiabulls Commercial Credit Limited (ICCL), a non-bank financial company (NBFC), has announced the issuance of secured, redeemable and non-convertible bonds with a par value of Rs. 1,000 each (“NCDs”).

Tranche I opens on January 5, 2023 and closes on Friday, January 27, 2023.

The base issue size of the Tranche I Issue is INR 100 million with the option to maintain an oversubscription of up to INR 100 crore and a maximum of INR 200 million within the shelf limit of INR 10 billion (“Tranche I Issue”). can be aggregated. Tranche I Publishing offers various series of his NCDs for subscription, with coupon rates ranging from 9.05% to 10.30% per annum.

NCDs

NCD is proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”, together with BSE the “Stock Exchange”). BSE will be the designated stock exchange for tranche I issuance. NCD is rated “CRISIL AA/Stable” by CRISIL Ratings Limited and “ICRA AA (Stable)” by ICRA Limited.

The company is also offering an additional incentive of 0.25% to Category III and Category IV investors in the proposed Tranche I issuance. These investors are also holders of his NCDs or bonds previously issued by the company.

The lead underwriters in this matter are Edelweiss Financial Services Limited, Elara Capital (India) Private Limited and Trust Investment Advisors Private Limited. Beacon Trusteeship Limited is the bond trustee for this issue and KFin Technologies Limited is the registrar for his Tranche I issue.

net income

At least 75% of the net proceeds of the Tranche I issuance will be used to meet the Tranche I issuance expenditures and, after related expenses, to make subsequent loans, financings, and interest and principal repayments on the Company’s existing borrowings. shall be Up to 25% for general corporate purposes.