Farallon invests Rs 6.29 billion in Edelweiss ARC bonds

Farallon Capital has provided a Rs 6.29 billion debt facility to Edelweiss Asset Reconstruction Company (ARC) for 18 months at 14.5 per cent. The proceeds will be used to acquire security receipts and meet other business requirements. The debt has been raised in the form of senior secured non-convertible debentures (NCDs), which are due to mature on March 31, 2025. Edelweiss ARC will also pay 1.90 per cent on the principal amount of the NCDs.