Multi Finance goes for unlisted debenture

Multi Finance Plc has decided to issue Rs. 100 million worth of Unlisted, Unsecured, Subordinated,  Rated and Redeemable debentures with an option to increase it up to a further Rs. 100 million in the event of an oversubscription.

These debentures will be three year tenure carrying a monthly interest coupon rate of 13%. The Company said funds raised through the debenture will be used to minimize the maturity gap analysis.

The debenture is subject to regulatory approvals.