IHFL will use the proceeds for onward lending, financing as well as for repayment of interest and principal for existing borrowings, besides using it for general corporate purposes. New Delhi: Indiabulls Housing Finance Ltd (IHFL) will launch its first-ever issue of non-convertible debentures (NCDs) for retail customers on 15 September to raise Rs.7,000 crore. The company is coming up with a public issue of secured and unsecured redeemable NCDs opening on 15 September, the company said. The unsecured redeemable NCDs will be in the nature of subordinated debt and will be eligible for tier II capital, the company said. These carry the options of 3, 5 and 10 years of tenure for secured and 10 years for unsecured bonds.

Source: Mint September 12, 2016 11:37 UTC