Piramal Capital & Housing Finance Sells Mumbai Property, Raises USD 450 Million in Bonds
Piramal Capital & Housing Finance (PCHFL), a subsidiary of Piramal Enterprises, has sold its property in Santacruz East, Mumbai, for INR 187 crore, and raised USD 450 million through bond issuances, showcasing its strategic financial maneuvers.
Piramal CapitalMumbai PropertyBond IssuanceSustainable FinancingShoquba RealtyReal Estate MumbaiOct 10, 2024
In a separate regulatory filing, the company revealed that it has successfully raised USD 150 million through a global bond sale. The bonds will be issued at a yield of 7.80 per cent and are due for repayment in 3.32 years. This bond issuance demonstrates the company's commitment to attracting investment while managing its debt profile effectively.
Earlier this week, PCHFL had also announced its achievement of raising USD 300 million from a sustainability bond issuance. Notably, this move resulted in a remarkable 0.87 percent improvement in pricing when compared to the 7.950 per cent yield on bonds issued in July 2024. This improvement underscores the company's focus on sustainable financing, aligning with global trends that favor environmentally friendly investments.
These financial maneuvers highlight PCHFL's strategic direction, as the company continues to leverage opportunities in the market to enhance its growth and sustainability in the competitive financial landscape.
Piramal Enterprises is a leading conglomerate in India, with a diverse portfolio spanning healthcare, financial services, and real estate. Piramal Capital & Housing Finance (PCHFL) is a key subsidiary that focuses on structured credit and real estate finance. The company is committed to innovative financing solutions and sustainable practices, making it a prominent player in the Indian financial market.
Frequently Asked Questions
What property did Piramal Capital & Housing Finance sell?
Piramal Capital & Housing Finance sold its immovable property, which includes land and a building, in Santacruz East, Mumbai.
How much did Piramal Capital & Housing Finance raise through the global bond sale?
Piramal Capital & Housing Finance raised USD 150 million through a global bond sale, with a yield of 7.80 per cent.
What is the yield and repayment period for the global bond sale?
The global bond sale has a yield of 7.80 per cent and is due for repayment in 3.32 years.
How much did PCHFL raise through the sustainability bond issuance?
PCHFL raised USD 300 million from a sustainability bond issuance, achieving a 0.87 percent improvement in pricing compared to previous bonds issued in July 2024.
What is the strategic direction of Piramal Capital & Housing Finance?
Piramal Capital & Housing Finance is focused on optimizing its asset portfolio, attracting investment, and aligning with global trends in sustainable financing to enhance its growth and sustainability in the competitive financial landscape.
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