Capri Global completes debut dollar debt sale

MUMBAI: India’s Capri Global Capital has accepted bids worth $300 million for its debut dollar bond offering at 20 basis points below the initial price guidance, the company said in a notice to stock exchanges on Wednesday.

The non-banking financial company will sell 3-year-and-3-month bonds at 7.55% coupon.

Bonds will have a weighted average life of three years, with equal redemption in June 2029, September 2029 and December 2029.

Market intelligence firm CreditSights had placed the fair value of the bonds at 7.45%.

Fitch Ratings assigned the dollar-denominated senior secured bonds an expected rating of ‘BB-(EXP)’.

Capri Global taps dollar market with debut debt issue after banks hit pause

Earlier this financial year, Managing Director Rajesh Sharma had said the company will look to increase the share of capital market borrowings on its books.

In June, the company had conducted investor calls, but did not go ahead with the issue as pricing was less favourable than it expected.

Investors were eyeing a large debt supply from better-rated Indian lenders, dampening demand for other borrowers.

Capri becomes the fourth non-bank private lender in 2026 to raise dollar funding after Muthoot Finance, Tata Capital and IIFL Finance.