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360 ONE Prime has launched public issue of its secured redeemable NCDs. The NBFC aims to raise a total of Rs.1000 crore including green shoe option.
The NCD offers effective yield of up to 9.65% per annum. Investors can choose the tenure between 18 months, 24 months, 36 months and 60 months. CRISIL and ICRA have assigned AA rating to this NCD.
The company will utilize this corpus to repay their existing loans and lend and finance to other corporates.
JM Financial, A. K. Capital Services Limited and IIFL Securities are the lead managers of this issue.
In a press release, Himanshu Jain, CEO and Whole-time Director, 360 ONE Prime said, “We have an integrated technology platform for providing operational and decision-making support through the complete loan lifecycle. Our company has credit ratings from agencies including CRISIL, CARE and ICRA. We believe our credit rating allows us to borrow funds at competitive rates from diverse sources.”
