Edelweiss Fin plans to raise Rs 250 crore via bonds

Mumbai, Jan 22 () Edelweiss Finance & Investments (EFIL) on Wednesday said it is looking to raise up to Rs 250 crore through bonds.

The base size of the issue is Rs 125 crore with an option to retain over-subscription up to Rs 125 crore.

"The funds raised will be primarily used for the purpose of onward lending and the repayment of interest and principal of existing borrowings of the company and for general corporate purposes," the NBFC arm of Edelweiss group said in a release.

The company is offering bonds maturing in 18, 36, 60 and 120 months with monthly, annual and cumulative interest payment option.

Bonds will be offering an effective yield up to 10.25 per cent per annum. An additional interest of 0.20 per cent will be given to existing holders of bonds previously issued by the company or by Edelweiss Financial Services (EFSL) or ECL Finance, it said.

The issue will open for subscription on January 23, 2020 and close on January 31.

Lead managers to the issue are IDBI Capital Markets & Securities and Edelweiss Financial Services (EFSL).

The NCDs will be listed on the BSE.

EFIL gives loans against securities, ESOP finance, margin trade financing and IPO financing.

It also provides loans to its customers against the pledge of certain specified securities held by customers. The product is offered to them who require liquidity against their investments in certain specific marketable securities. HV BAL BAL
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(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)

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