India-based Indiabulls Housing Finance Ltd. raised 3.5 billion Indian rupees through an issuance of secured redeemable nonconvertible debentures via a private placement.

The debentures have a tenor of one year and one month, and pay out a coupon of 9.4648%, according to an Oct. 4 release.

The notes will mature Nov. 4, 2019.

As of Oct. 4, US$1 was equivalent to 73.82 Indian rupees.