India's IIFL Finance accepts bids for dollar-bond issue

IIFL Finance

17/01/2025 04:37

MUMBAI, Jan 17 (Reuters) - India's IIFL Finance
 IIFL.NS  has accepted bids worth $325 million for its planned
issuance of U.S. dollar-denominated bonds maturing in three
years and six months, the company said on Friday.
    The non-banking finance company will offer a semi-annual
coupon of 8.75% on the issue, lower than the initial guidance of
around 9.00%.
    The net proceeds will be used for on-lending and to support
the growth of the company's businesses, it said.
    Last September, Reuters reported that IIFL Finance could
test the dollar bond market to raise funds by March 2025.

 (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))