Tata Capital, IIFL Could Tap Dollar Bond Market Next Week

Two Indian non-banking finance companies (NBFC) could raise about $900 million through the US dollar bond market by the end of next week, merchant bankers aware of the developments said on Friday.

- Reuters

MUMBAI:

Tata Capital may raise around $500 million through its debut bond offering, while IIFL Finance is likely to raise $400 million in its first dollar bond sale in four years, the two bankers said.

Tata Capital is looking to raise funds through the sale of bonds maturing in three years and six months, while IIFL Finance will opt for a three-year issue, the bankers said, requesting anonymity as they are not authorized to speak to the media.