Indiabulls sells CB after regulations scupper vanilla deal

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By Jonathan Breen
25 Feb 2021

Indiabulls Housing Finance has sold India’s first international convertible bond in more than a year, spurring interest from other companies struggling to raise funds in the country’s domestic market. But potential issuers will have to deal with a lot of regulatory hurdles, writes Jonathan Breen.

Mortgage lender Indiabulls sold its debut $150m CB this week, after increasing the size of the offering. The deal is the first Indian equity-linked issue since Bharti Airtel’s $3bn combined CB and share placement in January 2020 and the first from a high yield rated issuer in more ...

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