IIHFL: Double your money in 6 years..

Issue size is Rs. 100 crore with an option to retain over-subscription up to Rs. 100 crore, aggregating to a total of up to Rs. 200 crore

India Infoline Housing Finance Limited (IIHFL), the housing finance subsidiary of India Infoline Limited, one of the largest diversified financial services companies in India, announces public issue of IIFL Home Bonds. The issue of unsecured redeemable non-convertible debentures, which is of the nature of subordinated debt, will be eligible for Tier-II capital.

The bond issue has been rated ‘CRISIL AA-/Stable’ by CRISIL, ‘[ICRA] AA- Outlook: Stable’ by ICRA which indicates high degree of safety regarding timely servicing of financial obligation. Such instruments carry very low credit risk. The stable rating outlook for the subordinate bond issue is testimony of IIHFL's robust business model and credit monitoring mechanism. The Short term debt obligations have been A1+ by CRISIL and ICRA.

Mr. S. Sridhar, Chairman, IIFL Housing Finance, said, “We will focus on growing our home loan and mortgage assets while keeping a close eye on the quality of assets. The issue of NCDs will further enable us to improve our Asset Liability profile and strengthen the capital base.”

Speaking on the issue, Mr. R Venkataraman, Managing Director, IIFL said, “As part of prudent asset allocation, investors should have exposure to fixed income. This issue offers attractive options for retail investors seeking regular cash flows.”

Key highlights of this issue:

·              Double your money in 6 years, under Cumulative option

·              Attractive yield of 12.68% per annum, under Monthly option

·              No Tax Deducted at Source (TDS), if the bonds are held in demat

·              Bonds will be listed in BSE and NSE thereby providing liquidity

·              Rated 'CRISIL AA-/Stable' by CRISIL, '[ICRA] AA – Outlook: Stable' by ICRA

·              No Call option; opportunity to remain locked-in for 6 years

·              Allotment on first-come-first-serve-basis; Minors can apply (applying through guardian whose name is also mentioned in the Application Form)  

Highlights about the IIFL Group’s previous public bond issuances

·IIFL Secured Bonds in September 2013 had mobilised Rs. 1,050 crores, making it the largest public bond issue by a private issuer in the last four years, according to Prime Database.

·The maiden issue of IIFL Home Bonds by IIHFL in December 2013 had mobilised Rs. 500 crore, making it the first ever public issue of bonds by any private sector Housing Finance Company in India, according to Prime Database.

·IIFL Group's previous four public bond issuances have received overwhelming response; these bonds continue to be listed on the exchanges and are being serviced timely.

For Media contact 

 U.Christopher Charles,

Vice President,

Concept Public Relations India Ltd,

Chennai - 600 029.

Mob: 98424 75706, Dir: 23743389.

Mail: charles@conceptpr.com

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