IIFL Finance Allots $500M Fixed Rate Senior Secured Notes

IIFL Finance Limited has successfully allotted USD 500,000,000 in Fixed Rate Senior Secured Notes due 2029. This issuance is part of the company's USD 1,000,000,000 Global Medium Term Note Programme. The notes carry a coupon rate of 7.60% per annum, payable semi-annually, and are secured by a first-ranking pari passu charge over receivables and certain other assets. The proceeds will be used for onward lending and business growth in line with the company's Social Financing Framework and ECB Regulations. The notes are rated B+ by Fitch and S&P and will be listed on India International Exchange (IFSC) Limited and NSE IFSC Limited.