INSUBCONTINENT EXCLUSIVE:
MUMBAI: IIFL Finance (previously India Infoline Finance) on Sunday said it has repaid Rs 553 crore of retail bonds, which includes
interests, this month.
The company had issued these retail bonds in September 2013, when interest rates were high, a release said here.
"We
had issued these retail bonds in September 2013, when interest rates were high
We will replace these bonds with lower cost instruments thus bringing down our overall funding costs," IIFL Holdings Chief Financial Officer
Prabodh Agrawal said.
IIFL Finance is comfortable in terms of liquidity and has been conservative in its overall Asset Liability Management
policy, he added.
The company is the non-banking finance company under IIFL Holdings, which is a leading diversified financial services
company.
IIFL Finance provides home, business, gold, commercial vehicle and micro-finance loans among others to a broad segment of customers
including salaried and self-employed personnel and corporates.
The company is part of diversified financial services entity IIFL Group with
a market capitalisation of about Rs 24,000 crore.
