Indian gold loan financier IIFL Finance has secured $300 million through a four-year social dollar bond, marking its second international fundraise in less than a month.
The transaction closed with a yield of 7.75%, slightly below the initial price guidance of approximately 7.85%, according to merchant bankers involved in the deal.
The successful placement underscores growing investor confidence in India's non-banking financial company (NBFC) sector.
By pricing below initial guidance, IIFL Finance demonstrated strong demand from international investors seeking exposure to Indian credit.
The issuance follows a similar $300 million five-year dollar bond raise by state-run Power Finance Corp (PFC) earlier this year, which marked the first time a non-bank lender in India tapped the international debt market under the Reserve Bank of India's new framework.
This rapid succession of deals highlights a structural shift in India's international debt market.