The company is planning to issue seven yearly debenture worth Rs 200 million at the interest rate of 12 percent payable semi-annually.
The interest rate offered by the company is comparatively high than that of commercial banks. The commercial banks are issuing debenture at an interest rate of 10.25 percent (maximum).
ICFC Finance will issue 200,000 units of debenture at a face value of Rs 1,000. Regarding this, the company signed an agreement with Global IME Capital on August 25.
According to the agreement, Global IME Capital will function as issue manager for the debenture issue.
