S&P recently advised (i) LIC Housing Finance Limited; and (ii) Catalyst Trusteeship Limited, in relation to raising an amount of INR 43,000 crores by way of issue of rated, listed, secured, redeemable non-convertible debentures (to be issued in various tranches during the financial year 2020-21) including green shoe option to retain over subscription.

The debentures are issued on a private placement basis under the recently promulgated SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 (“NCS Regulations”), which came into force on the August 9, 2021. The NCS Regulations repealed the erstwhile SEBI (Issue and Listing of Debt Securities) Regulations, 2008, as amended, and consolidated 37 circulars issued by SEBI over the years into a single Operation Circular for Issue and Listing of Non-Convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper.

The transaction team comprised of Partner, Abir Lal Dey and Associates Shagufta Parveen and Arshi Siddiqui.