MUMBAI: Indiabulls Housing Finance is set to raise up to Rs. 7,000 crore through public bond-sales, which will offer as much as 9.15% amid falling interest rates.The retail bond sale will open for subscription next Thursday and is expected to close on September 23.Total size including a base size of Rs 300 crore. But the company may retain oversubsriptions by another Rs 300 crore.In August, ET reported that housing finance companies including Indiabulls Housing, DHFL would soon begin selling bonds worth Rs 15,000-20,000 crore through public issuances in the next one or two months.Both retail and wealthy investors can earn 9.15% with 10-year maturity in unsecured bonds while 9% in secured bonds.Secured bonds are also of three and five-year maturities offering 8.70% & 8.90% respectively. "Investors are likely to subscribe the bonds with 5 and 10- year maturities more as the rates look more attractive Indiabulls Housing being AAA-rated," said Rupesh Bhansali, Head - Distribution, GEPL Capital.Brickwork and Care Ratings have rated the issue with AAA grade (Stable Outlook). Those bonds offered rates as high as 9.50 %.

Source: Economic Times September 12, 2016 05:59 UTC