Edelweiss Financial Services on Monday announced the opening of the public issue of secured redeemable non-convertible debentures of the face value of Rs 1,000 each. The company has plans to raise up to Rs 100 crore initially with a green-shoe option of up to Rs 100 crore, cumulatively aggregating up to Rs 200 crore.
Edelweiss Financial Services coupon rates
The issue has 12 series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly, and cumulative interest options. Effective annual interest yield on the NCDs ranges from 9.50% p.a. to 11.00% p.a.
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Edelweiss Financial Services bonds issue date
The bonds issue is scheduled to open on July 8 and close on July 22, 2024.
At least 75% of the funds raised through this issue will be used for the purpose of repayment/prepayment of interest and principal of existing borrowings of the company and the balance amount would be utilised for general corporate purposes, subject to such utilization not exceeding 25% of the amount raised in the issue, in compliance with the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021.
The NCDs proposed to be issued under the issue have been rated ‘CRISIL A+/ Watch Negative (placed on Rating Watch with Negative Implications).
Trust Investment Advisors Private Limited and Nuvama Wealth Management Limited are the lead managers to the issue. The NCDs will be listed on BSE Limited to provide liquidity to the investors.