IIFL Finance a Non-Banking Financial Company, has announced that its bonds which offers up to 10.03% yield, effectively doubling investment in 87 months will close on MARCH, 18, 2021.
The Fairfax and CDC Group backed IIFL Finance’s unsecured redeemable non-convertible debentures (NCDs), aims to raise up to Rs 1000 crore.
It has already seen very good response from investors across India due to higher interest rate and higher degree of safety.
The IIFL Bonds offer highest yield of 10.03% p.a. for tenor of 87 months.
The NCD is available in various options like monthly, annual and at maturity.
The IIFL Bonds would be issued at face value of Rs 1,000 and the minimum application size is Rs 10,000 across all categories.
In a press note the company has stated the 10.03% rate is also getting locked in for 87 months which is a big advantage.
Today the interest rates on a 10-year government securities are at 6%.
The lead managers to the issue are Edelweiss Financial Services Limited, IIFL Securities Limited and Equirus Capital Private Limited.