Capital First, the non-banking financial company has said that it is going to raise Rs 700 crore through non-convertible debentures for funding the the business growth.

Capital First has said in a regulatory filing that the board in its meeting “approved an issue of rated, listed, secured, redeemable, non-convertible debentures of Rs 500 crore plus green shoe option of Rs 200 crore on private placement basis.”

The bonds comes with tenure of three years and five years with coupon rate of 8.35 percent and 8.40 percent respectively.

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