IIFL Finance Limited has informed the Exchange about re-purchase and cancellation of Senior Secured Fixed Rate Notes under the USD 1,000,000,000 Global Medium Term Note Programme by IIFL Finance Limited.
IIFL · price
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IIFL Finance Limited has repurchased and cancelled USD 12,615,301.22 (including accrued interest) of Senior Secured Fixed Rate Notes due 2028. The repurchase was made at a premium out of total outstanding principal of USD 425,000,000. The transaction complies with RBI regulations including FEMA borrowing and lending rules and was within the limit approved by the Authorised Dealer bank. This voluntary early retirement of a portion of the notes reduces the company's outstanding debt obligations.
Voluntary early repurchase at a premium reduces IIFL Finance's debt burden and demonstrates proactive liability management. The buyback at above par value suggests the company has sufficient liquidity but will incur a one-time premium cost on the cancelled portion.