IIFL Finance to issue $100m secured fixed rate notes

** IIFL Finance has announced the issuance of senior secured fixed-rate notes worth $100 million under its global medium-term note programme. The Finance Committee approved the pricing, tenure, and other terms at a meeting held on March 4, 2025. These "Notes", listed on the India International Exchange IFSC Limited, will carry a B+/B+ rating (S&P/Fitch). The proceeds will be used for on-lending and to support the company’s growth in accordance with ECB Master Directions. The notes mature on July 24, 2028, after a tenure of approximately 3 years, 4 months, and 13 days from the allotment date of March 11, 2025, with coupon payments semi-annually, with the initial payment to be made on July 24, 2025 at an interest rate of 8.75% p.a. The notes will have a first-ranking pari passu charge over IIFL Finance’s present and future assets, receivables and operating cashflows.