S&P advises LIC Housing Finance, Catalyst Trusteeship regarding raising Rs 43Kcr via issue of non-convertible debentures

LE Desk

New Delhi, October 20, 2021: Saraf and Partners (S&P) recently advised LIC Housing Finance Limited and Catalyst Trusteeship Limited, in relation to raising an amount of Rs 43,000 crore by way of issue of rated, listed, secured, redeemable non-convertible debentures, including green shoe option to retain over subscription, the Law Firm has said in a press statement.

The transaction team comprised of Partner Abir Lal Dey and Associates Shagufta Parveen and Arshi Siddiqui, it said.

The debentures will be issued in various tranches during the financial year 2020-21.

The debentures are issued on a private placement basis under the recently promulgated SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, which came into force on the August 9, 2021, the statement said.

The NCS Regulations repealed the erstwhile SEBI (Issue and Listing of Debt Securities) Regulations, 2008, as amended, and consolidated 37 circulars issued by SEBI over the years into a single Operation Circular for Issue and Listing of Non-Convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper.