Capri Global Capital Raises $300 Million Via Maiden US Dollar Bond Issuance
Capri Global Capital Limited raised US$ 300 million via its first US Dollar bond issuance, with Senior Secured Notes maturing in 2029. The issue was oversubscribed 2.3x, exceeding US$ 700 million. This marks a significant step in diversifying funding sources.
Raising US$ 300 million through an international bond issuance is a material event that significantly diversifies the company's funding base and supports its expansion plans, impacting its financial strategy and growth potential.
The company successfully raised a significant amount through its first international bond issuance, which was oversubscribed, indicating strong investor confidence. This diversification of funding is positive for the company's growth prospects.
Capri Global Capital Limited, a prominent Non-Banking Financial Company, has successfully completed its inaugural US Dollar bond issuance, raising US$ 300 million (approximately ₹2,500 crore) through Senior Secured Notes maturing in 2029.
The transaction was managed by a consortium of global banks including Barclays, Citi, Deutsche Bank, Emirates NBD, and UBS. The bonds were priced at a coupon rate of 7.55% per annum. The issue garnered significant interest, being oversubscribed by over 2.3 times, with an order book exceeding US$ 700 million (approximately ₹5,830 crore) from 64 high-quality accounts, including substantial allocation to global real money investors.
Mr. Rajesh Sharma, Managing Director of Capri Global Capital Limited, stated that this debut US Dollar bond issuance is a significant step in the company's scaling and growth. He highlighted that the strong response from international investors validates the company's credit strength and business model, enabling diversification of funding sources across domestic and global capital pools.
The allocation by region was led by the US (49%), followed by Asia (39%), and EMEA (12%). By investor type, Asset Managers and Fund Managers constituted the largest portion (91%), with Insurance companies at 5%, and Banks, Private Banks, and others at 4%. This successful issuance reinforces Capri Global's commitment to sustainable expansion by diversifying its funding sources.
A plain-language summary of a public exchange filing by Capri Global Capital Limited. Read the original for the full detail.