Livemint: March 27, 2018
New Delhi: Non-banking financial company Capital First, which is set to merge with IDFC Bank, will raise up to Rs1,500 crore by issuing bonds on private placement basis.
“The debenture committee of the company today approved an issue of rated, listed, secured, redeemable, non-convertible debentures of Rs1,000 crore plus green shoe option of Rs500 crore on private placement basis,” Capital First said in a regulatory filing.
The bonds will carry two options with coupon rates of 8.80% each for maturities of two years and three years. On Monday, Capital First and IDFC Bank informed about getting approval from NSE for amalgamation of Capital First, its subsidiaries Capital First Home Finance and Capital First Securities with IDFC Bank subject to regulatory and other approvals.
Stock of Capital First was trading at Rs640.30, up 3.46% on BSE.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.