Mortgage financier Indiabulls Housing Finance (IBH) on Friday said it has repaid Rs 7,075.84 crore to its non-convertible debenture (NCD) investors this month.
The repayments comprised of Rs 6,575.84 crore of public issue of NCDs by IBH and Indiabulls Commercial Credit (ICCL), a 100 per cent subsidiary of IBH, in September 2016 and September 2018, respectively, and Rs 500 crore of NCDs issued by IBH in September 2011, a release said.
The public NCDs were repaid ahead of their scheduled repayment dates, it said.
For its May 2022 maturity of $350 million dollar bonds, the company has voluntarily created a reserve fund wherein it will periodically transfer a sum totalling 75 per cent of the total maturity proceeds of these bonds, the release said.
The sum will be transferred in three tranches of 25 per cent each, to a debt repayment trust, managed by IDBI Trustee, and which will be utilised towards scheduled redemption of these bonds.
IBH has already transferred the first tranche in August 2021, and the next two tranches will be transferred in November 2021 and February 2022, the release said.
