Indiabulls Housing debuts $150m convertible bond

UK housing construction from Adobe 9Apr20 575x375
By Jonathan Breen
24 Feb 2021

Indiabulls Housing Finance has brought a rare Indian convertible bond to the market, raising $150m after increasing the size of its debut offering.

The mortgage lender, which has some conventional domestic bonds outstanding and made its debut in dollar bonds in 2019, initially came to market with a five non-put three year $125m CB paying a 4.5% coupon. The issue is the first Indian CB since Bharti Airtel’s $3bn ...

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