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Edelweiss Financial unit issues 3B rupees of bonds

ECL Finance Ltd., a unit of Edelweiss Financial Services Ltd., issued 3 billion Indian rupees of unsecured nonconvertible subordinated perpetual bonds to strengthen its capital adequacy ratio.

The bonds, which were issued in the nature of debentures, were priced with a coupon of 10.25% per year, according to a June 7 release.

The debentures were issued via a private placement and listed on the wholesale debt market segment of the BSE.

As of March 31, ECL Finance's capital adequacy ratio was 10.25%.

As of June 7, US$1 was equivalent to 64.42 Indian rupees.