IFMR Capital, the Chennai-based NBFC, has said that it has arranged the first issuance of the Commercial Paper (CP) for Hinduja Leyland Finance Limited (HLF).
The CP issuance of Rs 250 crore is the largest placement by IFMR Capital for any of its clients till date.
The company said it has conducted a detailed field diligence across various states in which HLF operates. This is the first CP issuance by HLF and has been subscribed to by Religare Invesco AMC and UTI AMC.
Kshama Fernandes, chief executive officer, IFMR Capital said the addition of Mutual Funds has enabled HLF to diversify its sources of funding. It also provides product diversification and can also be used as a tool for efficient treasury management.
IFMR Capital has so far structured, arranged and co-invested in more than 200 capital market transactions, including securitisations, senior and subordinated bond issuances, commercial paper issuances, ECBs and preference shares.
