GIC Housing Finance raises $21M in NCD placement at 8.15%
What's the deal? GIC Housing Finance LtdDealroom has a profile for this one. Try Dealroom → issued secured non-convertible debentures (NCDs) worth US$27.2M (roughly $21 million) through a private placement on September 22, 2026. The debentures carry an annual coupon of 8.15% and run for 1,178 days, maturing December 19, 2029.
The details: The issuance comprises 20,000 securities valued at US$1.36K each, listed on BSE LimitedDealroom has a profile for this one. Try Dealroom →. They are rated, redeemable, taxable, and secured by a first-ranking exclusive charge on hypothecated assets in favour of the debenture trustee.
The structure: The base size includes a green shoe option of up to US$13.6M, lifting the total potential raise to US$40.7M if fully exercised. That gives the company room to meet stronger investor demand without reopening the book.
Allotment for the Series 12 Tranche 2 is set for September 28, 2026, with interest paid annually from December 19, 2026. Should the company default on interest or principal, it must pay an extra 2% per annum over the coupon until the default is cured.
The signal: The placement underscores GIC Housing Finance's continued reliance on debt capital markets to fund its mortgage book, matching long-dated liabilities against long-term lending. For investors, the 8.15% coupon offers a fixed return on a secured instrument maturing in late 2029.
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