India's Dewan Housing celebrates USD 150mn London Masala Bond listing
The five-year bond has an annual yield of 8.5 per cent and DHFL plans to use the proceeds of the offshore rupee-denominated bond to implement its "ambitious growth strategy", through portfolio diversification and strengthen profitability through reduction in its cost of borrowing. "This is truly a significant milestone for DHFL making a debut listing in the international markets," said Kapil Wadhawan, chairman and managing director of DHFL, a company with a focus on providing financing products for the low and medium income (LMI) segment in India.
India's Dewan Housing Finance Limited (DHFL) today celebrated its first Masala Bond on the London Stock Exchange with a market opening ceremony. Image source: Reuters