Mumbai: On Friday, Piramal Capital and Housing Finance announced that it obtained $150 million from a worldwide bond offering. According to a statement from the company, the bonds will be issued with a yield of 7.078 percent and will need to be repaid in 3.32 years. In July of this year, the company, which is a wholly-owned subsidiary of Piramal Enterprises, raised USD 300 million through a sustainability bond issuance. The statement noted a 0.87 per cent pricing improvement in the most recent issue compared to the 7.950 per cent for bonds issued in July 2024.
The problem received subscriptions totaling USD 520 million, which was 3.5 times more than needed. The statement noted that 40 investors took part in the final round of fundraising. Regarding the geographic distribution, 92 pc of the funds came from Asia, with the remaining originating from Europe, the Middle East, and Africa.
The report noted that asset managers contributed 95 pc of the total funds, while banks accounted for the remaining 5 pc. The managing director of the company, Jairam Sridharan, stated that the goal is to obtain 10-12 percent of its loans from overseas sources within the next 2-3 years. He expressed excitement to offer global investors the chance to be part of India's growth journey amidst its dynamic investment environment. On Friday, the Piramal Enterprises stock ended 2.22 per cent lower at Rs 1,033.05 on the BSE, compared to a 0.98 per cent decline on the benchmark index.
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