BOM:532636

IIFL Finance to Raise $500 Million Through Fixed Rate Notes

IIFL Finance (NSE:IIFL, BOM:532636) plans to issue $500 million worth of senior, secured, fixed-rate notes, at a coupon rate of 7.60% per annum, according to a Thursday filing to the Indian stock exchanges.The notes will be issued under the company's $1 billion global medium-term note program, the filing said.The notes will be issued on June 10, 2026, and have a maturity date set at Sept. 10, 2029.

S&P Rates IIFL Finance's Proposed US Dollar Notes B+

S&P Global Ratings has placed IIFL Finance's proposed US dollar senior secured notes a B+ long-term issue rating, according to a recent release.The company will draw down the notes from its $1 billion medium-term note program, which has the same rating, S&P said.The notes' rating is equivalent to the company's long-term issuer credit rating, since they serve as the issuer's direct, secured, and unconditional obligations.The notes will also at all times rank equally with the Indian finance company's other secured obligations.The company should secure at least 100% asset coverage, excluding nonperforming assets, for the notes, the rating agency said.

IIFL Finance to Issue $500 Million Notes at Coupon Rate of 7.60% Per Annum; Shares Up 4%

IIFL Finance (NSE:IIFL, BOM:532636) has assigned a coupon rate of 7.60% per annum for its $500 million senior, secured, fixed-rate notes, according to a Thursday filing to the Indian stock exchanges.The notes are part of the company's $1 billion global medium-term note program. They will be allotted on June 10 and are scheduled to mature on Sept. 10, 2029.The coupon rate of 7.60% per annum will be payable semi-annually on Sept. 10 and March 10 of each year, starting from March 10, 2027, until the maturity date.The company's shares were up nearly 4% in recent trade.

Jefferies Adjusts IIFL Finance's Price Target to INR520 from INR500, Keeps at Hold

Jefferies Adjusts IIFL Finance's Price Target to INR500 from INR600, Keeps at Hold

IIFL Finance's Consolidated Profit More Than Doubles in Fiscal Q4; Shares Up 3%

IIFL Finance (NSE:IIFL, BOM:532636) witnessed a sharp increase in its consolidated attributable profit to 5.87 billion Indian rupees in the fiscal fourth quarter ended March 31, against 2.08 billion rupees a year ago.Earnings per share climbed to 13.72 rupees compared with the year-ago figure of 4.85 rupees, according to a Wednesday filing to the Indian stock exchanges by the non-banking finance company.Revenue from operations in fiscal Q4 also jumped to 36.9 billion rupees from 25.9 billion rupees a year earlier.The company's shares were up nearly 3% in recent trade.