By Andrei Skvarsky.
London-based wealth and investment manager Sun Global Investments has co-arranged a $350m issue of three-year US dollar-denominated bonds with a yield of 6.4 per cent per year for Indiabulls Housing Finance (IBHF), India’s second-largest housing finance company.
The securities, IBHF’s first-ever dollar-denominated bond issue, are part of a $1.5bn medium-term notes programme launched by IBHF and listed on the Singapore Stock Exchange, London-headquartered business communications company Sterling Media said in a statement.
IBHF is rated Ba1 with a stable outlook by Moody’s.
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