Multi Finance goes for unlisted debenture

Friday, 7 October 2011 00:43 - - {{hitsCtrl.values.hits}}

Multi Finance Plc has decided to issue Rs. 100 million worth of Unlisted, Unsecured, Subordinated, Rated and Redeemable debentures with an option to increase it up to a further Rs. 100 million in the event of an oversubscription.

These debentures will be three year tenure carrying a monthly interest coupon rate of 13%. The Company said funds raised through the debenture will be used to minimize the maturity gap analysis.

The debenture is subject to regulatory approvals.