IIFL Finance (IIFL) has successfully raised $325 million through a Fixed Rate Senior Secured Bond, priced at a competitive coupon rate of 8.75% with a door-to-door tenor of 3.5 years.
The bond offering witnessed an overwhelming response from global institutional investors across Asia, Europe, and the United States.
The transaction began with an initial pricing guidance of 9.00% and garnered peak demand of $1.15 billion at final pricing guidance. The final order book stood at over $730 million, with allocations of 20% in Asia, 25% in EMEA (Europe, the Middle East, and Africa), and 54% in the US. High-quality fund managers accounted for 95% of the allocation, while insurance companies and private banks made up 3% and 2%, respectively.
The proceeds from this issuance will be used for onward lending, as per the External Commercial Borrowing (ECB) Guidelines by the Reserve Bank of India (RBI).
Kapish Jain, CFO of IIFL Finance, said, “The strong response to this bond offering from top-tier global institutional investors is a testament to the trust and confidence in IIFL’s business model, operational strength, and governance standards. This issuance not only allows us to diversify our funding sources but also reinforces our commitment to delivering value to stakeholders while adhering to prudent financial practices.”
