IndiabullsHousing Finance Ltd. said April 12 that it issued 850 millionrupees of secured nonconvertible debentures in a private placement.

The company issued the debentures in three tranches. Thefirst and second tranches have an issue size of 250 million rupees with tenorsof three years and five years, respectively. The third tranche has an issuesize of 350 million rupees with a tenor of 10 years.

The first tranche was priced with a coupon of 8.95%, whilethe second and third tranches were priced with coupons of 9%.

As of April 12, US$1was equivalent to 66.43 Indian rupees.