Indiabulls Housing Finance To Buyback Rs 2,705 Crore Of NCDs, Masala Bonds
Indiabulls Housing Finance has already initiated the approval process with RBI for the early redemption of the masala bonds.
Indiabulls Housing Finance Ltd. on Wednesday said it will buyback debt worth Rs 2,705 crore from investors before their maturity.
The home loan provider will buyback non-convertible debentures and masala bonds worth Rs 1,375 crore maturing in September. This includes Rs 660 crore issued via public issue. Indiabulls Housing Finance is also giving early redemption option to investors to buyback Rs 1,330 crore of masala bonds maturing in October.
"On the back of strong cash position, we will now offer investors to buyback (early redemption) of NCDs and masala bonds, subject to applicable laws, debenture/bond holders consent," according to an Indiabulls Housing Finance statement.
The company has already initiated the approval process with the Reserve Bank of India for the early redemption of the masala bonds, it added. It had already bought back Rs 2,173 crore of NCDs maturing in July and August from investors.