IIFL Finance raises $300-M via 4-yr dollar bonds

Fairfax-backed IIFL Finance has raised USD 300 million through a four-year dollar bond sale to international investors. The transaction marks the second such issuance by the company within a month. The bonds were priced at 7.60%, following an initial price guidance of 7.85%. The issuance was conducted under the company's existing medium-term note program to facilitate immediate access to capital.HSBC and Standard Chartered acted as the mandated bookrunners for the issuance. The company intends to use the proceeds from this bond sale to support its capital requirements.The order book for the transaction reached about USD 900 million, which included USD 100 million, from the joint lead managers.