Piramal Capital and Housing Finance announced on Friday that they have raised US$150 million through a global bond sale. The bonds were issued at a yield of 7.078% and must be repaid in 3.32 years, according to a statement from the company.
The company, a wholly owned subsidiary of Piramal Enterprises, raised $300 million in a sustainability bond issue in July this year.
The latest issue achieved a 0.87 percent pricing improvement compared to 7.950 for the July 2024 issue, the statement said.
The issuance was oversubscribed by $520 million, or 3.5 times, the statement said, adding that a total of 40 investors participated in the final issuance.
In terms of geographical spread, 92 per cent of the funds were raised from Asia and the rest from Europe, the Middle East and Africa, the report said, with 95 per cent of the funds raised from asset managers and 5 per cent from asset managers. It added that it was from an asset management company. From the bank.
Jairam Sridharan, managing director of the company, said the company aims to raise 10-12% of its borrowings from overseas in the next two to three years. He further added, “India offers an exciting investment environment and we are pleased to offer global investors the opportunity to join the country’s growth journey.”
Piramal Enterprises share price closed 2.22 per cent lower at Rs 1,033.05 on the BSE market on Friday, while the benchmark saw a correction of 0.98 per cent.
