InvestorQ : Why has IIFL Finance closed its bond issue 10 days early?
Sam Eswaran made post

Why has IIFL Finance closed its bond issue 10 days early?

Answer
image
Moii Chavate answered.
2 months ago
Follow

IIFL Finance has closed its retail bond issue 10-days early due to the very strong subscription demand. The bond issue had a base size of Rs.100 crore with a green shoe option to go up to Rs.1,000 crore. However, with 10 days to go, the company had already collected Rs.935 crore and decided to close the bond issue early.

IIFL Bonds offer the best in class effective yield of 8.75% for the tenure of 60 months. In addition, the shareholders of IIFL Finance as well as bond holders of IIFL Finance and IIFL Home Finance will get an added incentive of 0.25% as extra coupon. IIFL Finance has loan AUM of Rs.43,160 crore with 93% retail based. Gross NPA stand stable at 2.21%.

1 Views