IIFL Finance Secures USD 300 Million Through Senior Secured Notes Issuance
IIFL Finance Limited has successfully structured the issuance of fixed rate, senior, secured notes as part of a larger USD 1,500,000,000 Global Medium Term Note Programme. These notes are designated for listing on the India International Exchange (IFSC) Limited and NSE IFSC Limited.The introduction of these notes marks a significant step in the company's financing strategy. The issuance provides funds for onward lending and supporting the growth of IIFL Finance's business, aligning with its Social Financing Framework and ECB Regulations.
Details of this specific tranche of notes, including their terms and security structure, are as follows:
| Particular | Details |
|---|---|
| Instrument Type | Fixed rate, senior, secured notes (Notes) |
| Size of the Issue | USD 300,000,000 |
| Tenure | 4 years |
| Dates | Allotment: July 10, 2026; Maturity: July 10, 2030 |
| Coupon Offered | 7.60% per annum |
| Interest Payment Schedule | Semi-annually on January 10 and July 10 in each year, commencing January 10, 2027 |
| Redemption | At par on the Date of Maturity |
| Expected Ratings | B+ / B+ / Ba3 (S&P / Fitch/Moody's) |
The notes are secured by a first ranking pari passu charge over all present and future receivables and assets of IIFL Finance Limited. This security includes current assets, book debts, operating cash flows, loans and advances, to the extent defined in the Offering Circular.
The terms finalized for these Notes include:
- Coupon: 7.60% per annum, payable semi-annually.
- Security: A first ranking pari passu charge was created over the company’s assets and receivables.
- Listing Status: The notes are slated for listing on the India International Exchange (IFSC) Limited and NSE IFSC Limited.
IIFL Stock Price Movement
On Thursday, IIFL Finance Limited's shares surged to close at ₹524.00, marking a robust gain of 5.72% from the previous trading session’s closing price. The equity saw strong conviction in the market as approximately 1.96 million shares were traded during the period.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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