Piramal Capital raises $ 150 million from bond sale
Piramal Capital and Housing Finance on Friday said it has raised USD 150 million through a global bond sale. The bonds will be issued at a yield of 7.078 per cent and will have to be repaid in 3.32 years, according to a company statement.
The company, a wholly-owned subsidiary of Piramal Enterprises, had raised USD 300 million from a sustainability bond issuance in July this year.
In the latest issue, it achieved a 0.87 per cent improvement in pricing as against the 7.950 for the bonds issued in July 2024, the statement said.
The issue saw subscriptions of USD 520 million or an oversubscription of 3.5 times, the statement said, adding that a total of 40 investors participated in the final issuance.
From a geographical spread perspective, 92 per cent of the funds were raised from Asia, while the rest was from Europe, Middle East and Africa, it said, adding that 95 per cent of the money raised was from asset managers and 5 per cent was from banks.
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