Debt financing
IIFL Finance raises $500-M from global investors for lending to EWS borrowers
Mumbai-based IIFL Finance has raised USD 500 million through a fixed-rate senior secured social bond, priced at 7.60% with a tenor of 3.25 years, marking its re-entry into international bond markets. Proceeds from the issuance are expected to be deployed towards lending to borrowers from economically weaker sections.The final order book for the bond issue reached around USD 2 Billion, with investors from Asia accounting for 33% of allocations, followed by 31% from Europe, the Middle East and Africa (EMEA), and 36% from the US. Fund managers received 89% of the allocation, while the remainder went to insurance companies, private banks and other investors. HSBC, Standard Chartered Bank, JP Morgan and Emirates NBD acted as joint bookrunners for the transaction.
Between Oct 1999 and May 2024, IIFL Finance had attracted about $ 622 M from Fairfax Holdings, Carlyle, Richard Chandler Corp, ICICI Venture, Intel Capital, Actis.For FY25, IIFL Finance had reported about INR 4,066 Cr in Operating Income and about INR 409 Cr in Net Loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
