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Indiabulls Housing Finance issues 8.95B rupees of debentures

Indiabulls Housing Finance Ltd. issued 8.95 billion Indian rupees of nonconvertible debentures on a private placement basis.

The secured redeemable notes carry coupon rates ranging from 7.90% per year to 8.0253% per year. The issuance was part of the company's plan to raise a total of 240 billion rupees. The notes were allotted Dec. 27, according to a same-day release.

The issuance came after the company on Dec. 22 allotted the first tranche of notes, worth 2.50 billion rupees, on a private placement basis.

As of Dec. 27, US$1 was equivalent to 64.16 Indian rupees.