Sammaan Capital Limited, formerly known as Indiabulls Housing Finance Limited, has successfully raised $300 million through the issuance of Senior Secured Social Bonds. This strategic move marks a significant financial milestone for the company in the debt capital markets.

Bond Details

The bonds, which carry an interest rate of 8.95%, are set to mature in 2028. They have been structured under two key regulations:

• Rule 144A of the U.S. Securities Act, 1933: $16.70 million
• Regulation S of the U.S. Securities Act, 1933: $283.30 million

Listing and Trading

The company has announced that these bonds are expected to be listed on the Global Securities Market of the India International Exchange (IFSC) Limited. This listing is anticipated to enhance the bonds' liquidity and tradability in the international market.

Company Background

Sammaan Capital Limited, operating under the CIN L65922DL2005PLC136029, has its corporate office in Gurgaon, Haryana, and its registered office in New Delhi. The company, which recently underwent a name change from Indiabulls Housing Finance Limited, continues to maintain its presence in the financial services sector.

Recent Financial Activities

In addition to this bond issuance, the company has been actively managing its existing debt obligations. Recent LODR data reveals that Sammaan Capital has been making timely interest payments on various Secured Redeemable Non-Convertible Debentures (NCDs) issued through public offerings. These NCDs have varying issue sizes and monthly interest payment schedules.

Market Impact

This successful bond issuance demonstrates Sammaan Capital's ability to attract significant international investment, potentially strengthening its financial position and supporting its future growth strategies. The social aspect of these bonds also aligns with the growing trend of socially responsible investing in the global financial markets.

As Sammaan Capital continues to evolve its financial strategies, this bond issuance represents a noteworthy development for investors and market watchers alike, signaling the company's ongoing efforts to diversify its funding sources and optimize its capital structure.

Sammaan Capital , formerly known as Indiabulls Housing Finance, has successfully raised $300 million through its first international bond issuance since rebranding. The three-year bond, offered to overseas investors at an interest rate of 8.95%, marks a significant milestone for the housing finance company and represents the first high-yield issue from India in the current fiscal year.

Diversifying Funding Sources

CEO Gagan Banga highlighted that this fundraising initiative is part of the company's strategy to diversify its funding base. With this latest bond issue, international sources now account for 10% of Sammaan Capital's total funding. The company aims to further expand its overseas borrowings, targeting a range of 10-15% of its total funding mix.

Future Funding Plans

In line with its expansion strategy, Sammaan Capital has ambitious plans for the near future:

• The company intends to raise an additional $500 million loan from a multilateral agency within the next 12 months.
• This move is expected to help achieve the target of 10-15% overseas borrowings in the company's funding portfolio.

Company Overview

Sammaan Capital, a mortgage-focused Non-Banking Financial Company (NBFC), currently manages a substantial portfolio:

• Total assets under management: ₹63,000 crore
• Total liabilities: ₹50,000 crore
• Operational presence: Over 220 branches across India

The company specializes in offering home loans in the affordable housing segment and provides working capital loans to small businesses.

Bond Issue Details

This successful bond issuance demonstrates Sammaan Capital's strong position in the market and its ability to attract international investors. The company's focus on diversifying its funding sources and expanding its overseas borrowings indicates a strategic approach to strengthen its financial position and support its growth objectives in the housing finance sector.

Recent Financial Compliance

As per the latest LODR (Listing Obligations and Disclosure Requirements) data, Sammaan Capital has maintained its commitment to financial transparency and timely payments. The company recently made timely interest payments on various Secured Redeemable Non-Convertible Debentures issued through public offerings. This adherence to regulatory requirements underscores Sammaan Capital's financial discipline and reliability in meeting its debt obligations.

The successful international bond issue, coupled with the company's consistent financial performance and compliance, positions Sammaan Capital favorably in the competitive housing finance market. As the company continues to expand its funding sources and strengthen its market presence, it remains an entity to watch in India's financial sector.