IIFL Finance plans record 20 billion rupee public bond sale to boost funding
IIFL Finance will launch a record 20 billion rupee bond sale next week. The funds will support lending and refinancing as the firm expands its capital base.
Insights:
IIFL Finance Ltd. has announced the launch of its largest-ever public bond issue, aiming to raise 20 billion rupees in India 
IN. This issuance, which marks the company's biggest public bond sale to date, will offer investors maturities of two, three, and five years. These tenors are set with coupon rates of 8.70%, 8.85%, and 9.00% respectively, as the firm seeks to diversify its funding sources.
IN. This issuance, which marks the company's biggest public bond sale to date, will offer investors maturities of two, three, and five years. These tenors are set with coupon rates of 8.70%, 8.85%, and 9.00% respectively, as the firm seeks to diversify its funding sources.The proceeds from the 20 billion rupee issue are designated for onward lending, the refinancing of existing borrowings, and general corporate purposes. This announcement comes amid a broader pickup in public bond issuance across the country. The company, led by Nirmal Jain, indicated that this is its second public bond offering in the current financial year and is expected to open for subscription next week.
