Mumbai, December 21 (PTI) Edelweiss Financial Services (EFSL) announced on Monday that it would increase to Rs 200 crore through the issuance of guaranteed and redeemable non-convertible debentures (NCDs).
The base size of the issue is Rs 100 crore, with an option to maintain an oversubscription up to Rs 100 crore, the company said in a statement.
The bonds offer an effective (cumulative) yield of 9.95% per annum for 120 months, 9.35% per annum for 36 months and up to 9.80% per annum for 60 months.
An additional maximum incentive of 0.20% per annum will be offered to all categories of investors in the proposed issue, who are also holders of bonds previously issued by the company and / or its group companies – ECL Finance , Edelweiss Housing Finance, Edelweiss Retail Finance and Edelweiss Finance and Investments and / or are shareholders of Edelweiss Financial Services, according to the press release.
The company said 75 percent of the funds raised through the issuance will be used for the purpose of prepaying / prepaying interest and principal on its existing borrowings and the balance is expected to be used for general corporate purposes. .
The issue will open on December 23, 2020 and close on January 15, 2021, with an early closing option, he said.
Care Ratings has evaluated the CARE A + offer; with a stable outlook and Brickwork Ratings India Private rated it BWR AA- / Stable (Assigned). The main manager of the issue is Equirius Capital Private. The bonds will be listed on the ESB. PTI HT
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