IIFL Home To Issue Up To Rs 1,000 Cr Of Retail Bonds At 8.2-8.75% Interest

IIFL Home Finance on Monday said it will issue up to Rs 1,000 crore in retail bonds, starting Wednesday.

The non-convertible debentures (NCD) will be of Rs 1,000 crore each, and will offer coupon rates between 8.20 per cent and 8.75 per cent per annum, depending upon the tenure. The maturities of the bonds range from three years to seven years.

The bonds are rated AA stable by Crisil. This is the second tranche of its retail bond issuance. The firm has board approval to raise up to Rs 5,000 crore through various tranches. In the first tranche in July, the housing finance company had raised Rs 655 crore.

The issue closes on December 28, “with an option of early closure or extension,” IIFL Home Finance said in a statement.

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