Capri Global Capital Raises $300M via 7.55% Senior Secured Notes
By ThePip Desk
Capri Global Capital approves $300M Senior Secured Notes at 7.55% due 2029. Notes to be listed on India International Exchange and NSE IFSC.
Capri Global Capital has formally approved the pricing and terms for a new US$300 million issuance of 7.55% Senior Secured Notes, set to mature in 2029. This significant financial move was finalized via a circular resolution on September 1, 2026.
The issuance is part of the company’s existing global medium term note programme, signaling a strategic financial maneuver within its broader capital raising initiatives.
Key Issuance Details
- Amount: US$300 million
- Interest Rate: 7.55%
- Maturity Date: December 9, 2029
- Expected Ratings: Ba3 from Moody’s, BB- from Fitch
These notes are slated for settlement on September 9, 2026, marking a swift transition from approval to market execution. Following settlement, the instruments will be listed on prominent international exchanges.
- Listing Venue 1: Global Securities Market segment of the India International Exchange (IFSC) Limited
- Listing Venue 2: NSE IFSC Limited
The issuance operates under a larger US$1 billion GMTN Programme and adheres strictly to U.S. Securities Act regulations. This ensures compliance with established international financial frameworks.
Understanding the Notes’ Structure and Use
Interest payments for these notes will occur semi-annually, commencing on June 9, 2027, and continuing until the final maturity date. This consistent payment schedule provides regular returns to investors.
- Interest Payment Frequency: Semi-annual
- First Payment Date: June 9, 2027
- Final Maturity Date: December 9, 2029
The Senior Secured Notes are backed by a first-ranking pari passu charge over various assets of the issuer, providing a layer of security for investors. Redemption is structured in a phased manner.
- Security: First-ranking pari passu charge over various issuer assets
- Redemption: Three equal amortisation tranches during the final quarter of the instrument’s life
The proceeds generated from this issuance are earmarked for onward lending, aligning with the operational scope permitted by Reserve Bank of India regulations. This supports the company’s core business activities while adhering to regulatory guidelines.