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Indiabulls Housing Finance accepts bids for dollar bonds, bankers say

Reuters
·1-min read

MUMBAI (Reuters) - Indiabulls Housing Finance has accepted bids worth $350 million for dollar-denominated social bonds maturing in three years and three months, two merchant bankers said on Wednesday.

The non-banking finance company will pay a coupon of 9.70% to investors, lower than the initial guidance of 9.95%, the bankers said.

Barclays, CLSA, Deutsche Bank, Elara Capital, Emirates NBD Capital, Nuvama and UBS are the joint bookrunners for the issue.

The bonds will be rated B by S&P and the proceeds will be used for activities such as onward lending, the bankers said.

(Reporting by Bhakti Tambe; Editing by Mrigank Dhaniwala)