Indiabulls Housing Finance Ltd (IBHFL) said on Friday it repaid Rs 7,075.84 crore of non-convertible debentures (NCDs) to its investors in September.
The repayments comprised of Rs 6,575.84 crore of public issue of NCDs done by IBH and Indiabulls Commercial Credit Ltd (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.
The public NCDs were repaid ahead of their scheduled repayment dates.
IBH has a fully matched ALM with significant positive cash at the end of each period. The company from time to time utilises its liquidity buffers to repay its liabilities ahead of schedule to give comfort to its stakeholders, especially lenders and rating agencies.
For its May 2022 maturity USD 350 million dollar bonds, the company said it has voluntarily created a reserve fund wherein it will periodically transfer a sum totalling to 75 per cent of the total maturity proceeds of these bonds 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.
( With inputs from ANI )
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