Indian gold loan financier IIFL Finance has secured $300 million through a four-year social dollar bond issue, bankers said.
The transaction closed with a yield of 7.75%, slightly below the initial price guidance of approximately 7.85%, indicating robust demand from international investors.
The deal follows a similar move by Power Finance Corp (PFC), which recently raised $300 million through a five-year dollar bond issue.
This marks the second international fundraise for IIFL Finance in less than a month, underscoring the company's active strategy to diversify its funding sources and tap into global capital markets.
The successful placement at a tighter spread than initially guided suggests that investors are willing to accept competitive yields for exposure to India's non-banking financial sector.
The deal follows a similar move by Power Finance Corp (PFC), which recently raised $300 million through a five-year dollar bond issue.
PFC's transaction was notable as the first time a non-bank lender in India tapped the international debt market under the Reserve Bank of India's new framework for social bonds.