 "Indiabulls Housing Finance accepts bids for dollar bonds, say bankers")
Indiabulls Housing Finance has accepted bids worth $350 million for dollar-denominated social bonds maturing in three years and three months, two merchant bankers said on Wednesday.
The non-banking finance company will pay a coupon of 9.70 per cent to investors, lower than the initial guidance of 9.95 per cent, the bankers said.
Barclays, CLSA, Deutsche Bank, Elara Capital, Emirates NBD Capital, Nuvama and UBS are the joint bookrunners for the issue.
The bonds will be rated B by S&P and the proceeds will be used for activities such as onward lending, the bankers said.