IIFL Finance allots $100m senior secured notes

** IIFL Finance has announced the allotment of $100 million in 8.75% Senior, Secured, Fixed Rate Notes due 2028, issued under Regulation S of the U.S. Securities Act 1933, as part of its USD 1 billion Global Medium Term Note Programme. The Finance Committee approved the allotment at its meeting on March 11, 2025. The notes, which are to be listed on India International Exchange (IFSC) Limited, will carry a first-ranking pari passu charge over the company's assets, excluding certain assets. The proceeds from the issue will be used for on-lending and supporting the growth of IIFL Finance's businesses, aligning with the ECB Master Directions. Fitch Ratings Inc. has confirmed that this issuance does not affect IIFL Finance's long-term issuer default rating and senior secured notes rating of 'B+', with the Recovery Rating of 'RR4' on the senior secured notes remaining unchanged. The notes are offered at denominations of U.S.$200,000 and integral multiples of U.S.$1,000 and will be redeemed at par.