0

0

0

0

0

0

0

0

0

This article is more than 2 month old.

Indiabulls Housing Finance repays Rs 7,075.84 cr to NCD investors in September

Mini

The repayments comprised of Rs 6,575.84 crore of public issue of NCDs by IBH and Indiabulls Commercial Credit (ICCL), a 100 percent subsidiary of IBH, in September 2016 and September 2018, respectively, and Rs 500 crore of NCDs issued by IBH in September 2011, a release said.

Indiabulls Housing Finance repays Rs 7,075.84 cr to NCD investors in September
Mortgage financier Indiabulls Housing Finance (IBH) on Friday said it has repaid Rs 7,075.84 crore to its non-convertible debenture (NCD) investors this month. The repayments comprised of Rs 6,575.84 crore of public issue of NCDs by IBH and Indiabulls Commercial Credit (ICCL), a 100 percent subsidiary of IBH, in September 2016 and September 2018, respectively, and Rs 500 crore of NCDs issued by IBH in September 2011, a release said.
The public NCDs were repaid ahead of their scheduled repayment dates, it said. For its May 2022 maturity of USD 350 million dollar bonds, the company has voluntarily created a reserve fund wherein it will periodically transfer a sum totalling 75 percent of the total maturity proceeds of these bonds, the release said.
The sum will be transferred in three tranches of 25 percent each, to a debt repayment trust, managed by IDBI Trustee, and which will be utilised towards scheduled redemption of these bonds. IBH has already transferred the first tranche in August 2021, and the next two tranches will be transferred in November 2021 and February 2022, the release said.
next story