Indiabulls Housing Finance to prepay bonds worth Rs 1,000 crore

7 Dec 2022 , 08:51 AM

Indiabulls Housing Finance is paying bonds worth Rs1,000 crore in advance that are due the following quarter, in order to minimize its excess liquidity.

The bonds were administered by IDBI Trusteeship Services and had an 8.1% coupon rate. Among other investors, Indiabulls is purchasing the bonds owned by Yes Bank and ICICI Prudential Life Insurance.

“This is consistent with the company’s proactive approach to asset liability management, where we keep large liquidity buffers and set aside funds in pools to pay off sizable loans before they become due.

The bonds that would have been due next quarter are being paid in full the following week, on December 16, 2022 “According to a source who talked to ET.

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