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Source: The Hindu BusinessLine

The Hindu BusinessLine
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Banking Sector
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1 min
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02 Sept
Published
Banking Sector
1 min read· The Hindu BusinessLine

Capri Global raises $300 million through debut dollar bond

Capri Global Capital has raised $300 million through its first US dollar bond offering. The fundraising broadens the NBFC’s funding mix and strengthens its access to overseas capital.

The transaction marks Capri Global Capital’s debut in dollar-denominated bond fundraising. It adds an international source of finance alongside domestic funding, giving the non-banking financial company a broader mix of sources from which to raise money.

The key development is the company’s expanded access to international capital markets. The report identifies funding diversification as an outcome of the issue, but does not provide a breakdown of Capri Global’s domestic and overseas borrowings. The size of this transaction alone therefore does not show how much its overall funding mix has changed.

Several details needed to assess the borrowing terms have not been stated. These include the bond’s interest rate, maturity and investor participation. The report also does not specify how Capri Global plans to deploy the proceeds, so the fundraising cannot be linked to a particular lending segment or business expansion plan.

For now, the confirmed picture is a $300 million debut dollar bond issue that widens the company’s funding channels. There is no stated announcement about changes to customer products, lending rates or operating arrangements alongside the fundraising.

Source: The Hindu BusinessLine