Capri Global Capital Limited has submitted the final papers for its U.S.$ 300 million debt issuance. The company is raising funds through 7.55% senior secured notes due December 2029 under its Global Medium Term Note Programme.

Transaction Status

The submission of final papers follows the pricing intimation issued on September 1, 2026. The notes were issued pursuant to Regulation S and Rule 144A of the U.S. Securities Act of 1933. The instrument carries credit ratings of “Ba3” by Moody’s, “BB-” by Fitch, and “BB-/ Positive” by CareEdge Global.

Use of Proceeds and Security

The proceeds from the issuance will be used for activities permitted under RBI regulations, such as onward lending, in accordance with ECB Guidelines and applicable laws.

The notes are secured by a first ranking pari passu charge over all standard receivables, book debts, principal amounts, interest, and un-encumbered cash balances owing to or receivable by the issuer.

Listing and Settlement

The notes are listed on India International Exchange (IFSC) Limited and NSE IFSC Limited. Interest payments are scheduled for June 9 and December 9 each year, commencing June 9, 2027. The principal amount is subject to amortisation in three equal tranches of 33.33% on June 9, September 9, and December 9, 2029.

Capri Global Capital successfully raised US$300 million through its first US dollar bond offering. The issuance was oversubscribed by over 2.3 times, with total investor demand exceeding US$700 million across 64 high-quality accounts.

The company executed the approval for the US$300 million issuance of 7.55% Senior Secured Notes due 2029 via circular resolution on September 1, 2026. This was done under its existing global medium term note programme.

Deal Structure and Terms

The transaction was managed by a consortium of global banks comprising Barclays, Citi, Deutsche Bank, Emirates NBD and UBS. The notes are expected to receive a Ba3 rating from Moody's and a BB- rating from Fitch. Settlement is scheduled for September 9, 2026, with the instruments to be listed on the Global Securities Market segment of the India International Exchange (IFSC) Limited and NSE IFSC Limited.

The issuance falls under the US$1 billion GMTN Programme and complies with Regulation S and Rule 144A of the U.S. Securities Act of 1933. Interest payments will commence on June 9, 2027, occurring semi-annually on June 9 and December 9 until maturity.

Investor Allocation

The issue saw one of the highest allocations to global real money investors. By region, allocation was led by the US (49%), Asia (39%), and EMEA (12%). By investor type, Asset Managers/Fund Managers accounted for 91%, Insurance companies 5%, and Banks, Private Banks, and others 4%.

Security and Redemption

The notes are secured by a first-ranking pari passu charge over the issuer's standard receivables, book debts, loan book, unencumbered cash balances, and investments in mutual funds or debt securities. This security covers both present and future assets, excluding specific receivables defined in the offering documents.

Redemption at par will occur through three equal amortisation tranches during the final quarter of the instrument's life:

• June 9, 2029: 33.33%
• September 9, 2029: 33.33%
• December 9, 2029: 33.33%

Use of Proceeds and Compliance

Proceeds from the issue will be utilized for activities permitted under Reserve Bank of India regulations, including onward lending, subject to applicable ECB Guidelines. The management committee submitted the pricing supplement to India INX and NSE IFSC as part of compliance with SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

What the Numbers Show

The 7.55% coupon rate reflects the cost of capital for this sub-investment grade debt instrument, consistent with the anticipated Ba3/BB- credit ratings. The strong demand of over US$700 million against a US$300 million offer size indicates robust investor appetite for Capri Global Capital's secured debt instruments in international markets. With 91% of allocations going to Asset Managers/Fund Managers, the issuance demonstrates significant institutional confidence in the NBFC's credit profile.