Sun Global Investments, the London based boutique investment bank, acted as joint lead managers with Barclays Bank, UBS and Yes Bank 

Dewan Housing Finance Limited(DHFL) has priced its first $150million Masala bond. The bonds are listed on the London Stock Exchange.

The London based emerging markets specialist boutique investment bank, Sun Global Investments, acted as Joint Lead Managers, along with Barclays Bank, UBS and Yes Bank.

With today’s issuance, Dewan Housing Finance Limited has become the first Indian non-quasi sovereign corporate to issue a five-year Masala Bond. The issuance is part of their US$2bn EMTN programme.

A masala bond is a rupee-denominated bond issued to overseas investors. The bonds are settled in US Dollars and are typically subject to English law.

Speaking about the Masala Bond issuance, Mihir Kapadia, the CEO of Sun Global Investments has said, “Sun Global Investments is delighted to have worked with DHFL on its debut Masala Bond issuance. We believe the bonds are an attractive opportunity for international investors to get access to a quality Indian credit.”

Sun Global Investments focuses on providing investment banking and capital markets solutions to corporates from Emerging Markets, as well as helping international investors access opportunities in those markets.

Sun Global Investments has built a reputation for acting for issuers in the Masala Bonds space, and had also recently acted as joint lead managers for a number of key transactions in the space.