Capital First raises Rs 500 cr through bonds

NBFC firm Capital First completed the allotment of Non-Convertible Debentures on private placement basis today to raise Rs 500 crore.
"The company has raised Rs 500 crore by issue of NCDs on private placement basis," it said in a regulatory filing.
The company allotted 5,000 NCDs of face value of Rs 10 lakh each to raise the amount.
Capital First said it will list the NCDs on NSE.
Earlier today, the Debenture Committee of the company's board had approved the issue to raise the capital.
The NCDs will offer coupon rate of 8.35 per cent per annum, the bonds are set to mature on January 17, 2020.

Backed by global private equity player Warburg Pincus, First Capital provides financing for various purposes including MSMEs.
As on March 31, 2016 the company financed over 2.25 million customers and built loan assets worth Rs 16,041 crore (USD 2.4 billion).
Stock of the company closed 0.04 per cent up at Rs 610.70 on BSE.