Edelweiss Financial Services has launched ₹100 crore public issue of secured redeemable non-convertible debentures of the face value of ₹1,000 each. The issue also has a green shoe option to retain another ₹100 crore, in case of oversubscription.

The Issue has 12 series of NCDs carrying fixed coupons and having a tenure of 24months, 36months, 60months, and 120 months with annual, monthly, and cumulative interest options. Effective annual interest yield on the NCDs ranges from 9.50 per cent p.a. to 11 per cent, it said in a release.

The Issue that opened on Tuesday will close January 20.

At least 75% of the funds raised through the Issue will be used for the purpose of repayment/prepayment of interest and principal of existing borrowings of the company and the balance amount would be utilised for general corporate purposes.

The NCDs proposed to be issued under the Issue have been rated “CRISIL A+/Negative (pronounced as CRISIL A plus rating with Negative outlook)