Crisis-hit DHFL clears interest on bonds due June 12; all you need to know

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Published: June 12, 2019 6:31:35 PM

Housing finance company Dewan Housing Finance (DHFL) on Wednesday said that it has paid over Rs 5 crore interest due June 12 on non- convertible debentures (NCDs) issued on private placement basis.

RBI, GDP, GDP Growth, Reserve Bank Of India, Trade War, Consumption, Slowdown, Demand, Political Stability, इकोनॉमिक ग्रोथ, एमपीसीShares of DHFL ended the day at Rs 93, up 2.85, or 3.16 per cent on NSE.

Housing finance company Dewan Housing Finance (DHFL) on Wednesday said that it has paid over Rs 5 crore interest due June 12 on non- convertible debentures (NCDs) issued on private placement basis. Amount of Rs 5,88,50,000 was paid to the debt investors, the DHFL said in a BSE filing. “We hereby confirm and certify under Regulation 57(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 that the Company has made payment of interest amount as detailed here under in respect of the following Non-Convertible Debentures issued on private placement basis,” the housing financier said in a regulatory filing.

It comes a day after the company informed the exchanges that it has paid Rs 961 crore interest on non-convertible debentures (NCDs). “Company has made full payment towards interest payable on secured redeemable NCDs issued by way of public issue within the cure period of seven working days. The company has made interest payments in lieu of Rs 961 crore as committed to its debenture holders,” the housing finance firm had said in its BSE filing on Tuesday.

Also read: Demand for overnight debt funds soars as IL&F, DHFL crises shake confidence in credit market

The company had also said yesterday that it’s committed to meet all its future obligations in a timely manner through its asset monetisation plans and bringing strategic partners on board. The housing financier has recently completed sale of its stake in Aadhar Housing Finance to an entity backed by Blackstone Group LP.

Also read: Indiabulls Housing moves SC to counter fund misappropriation charges

ICRA had last week downgraded the housing loan provider’s commercial paper programme to ICRAD. Even Crisil downgraded rating on the company’s commercial paper to ‘CRISIL D’ from ‘CRISIL A4+’.

Shares of DHFL ended the day at Rs 93, up 2.85, or 3.16 per cent on NSE.

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