IIFL Finance, a Non-Banking Financial Companies, will open a public issue of bonds on August 06, 2019, to raise up to Rs 1,000 crore, for the purpose of business growth and expansion. The bonds offer up to 10.5% yield and high degree of safety.
The UK-based CDC Group backed IIFL Finance will issue secured and unsecured redeemable non-convertible debentures (NCDs), aggregating to Rs 100 crore, with a green-shoe option to retain over-subscription up to Rs 900 crore (aggregating to a total of Rs 1,000 crore).
The IIFL Bonds offer highest yield of 10.50% p.a. for tenor of 69 months. It also offers 10.00% p.a. for short tenor of 15 months for the secured category. The bonds have monthly, quarterly and annual payment frequency along with zero coupon bonds. The other tenor offered is 39 months for secured category.