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Indiabulls Housing Finance repays Rs 7,075.84 crore to NCD investors in September

27 Sep 2021 Evaluate

Indiabulls Housing Finance (IBH) has repaid Rs 7,075.84 crore to its non-convertible debenture (NCD) investors in September, 2021.  The repayments comprised of Rs 6,575.84 crore of public issue of NCDs by IBH and Indiabulls Commercial Credit (ICCL), a 100 percent subsidiary of IBH, in September 2016 and September 2018, respectively, and Rs 500 crore of NCDs issued by IBH in September 2011. The public NCDs were repaid ahead of their scheduled repayment dates.

For its May 2022 maturity of $350 million bonds, the company has voluntarily created a reserve fund wherein it will periodically transfer a sum totaling 75 percent of the total maturity proceeds of these bonds. The sum will be transferred in three tranches of 25 percent each, to a debt repayment trust, managed by IDBI Trustee, and which will be utilized towards scheduled redemption of these bonds.

Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).

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