LIC Housing buys Citibanks loan portfolio
By Our Banking Bureau | 31 Aug 2002
Mumbai:
LIC Housing
Finance Ltd (LICHF) has acquired a housing loan portfolio
of more than Rs 200 crore from Citibank. The transaction
was structured and advised by Enam Financial Consultants.
A
press release from LICHF said this is the second portfolio
acquisition this year. In January 2002, the company had
acquired a portfolio from GLFL Housing Finance Ltd.
It added that LICHF
raised five-year money from the market at 7.80 per cent.
It raised an aggregate of Rs 185 crore. LICHF has also
got an AAA rating from Crisil and Care for a Rs 1,200-crore
debenture programme for the current year.
LICHF recently reduced the interest rates on its five-year housing loans by about 150 basis points to 9.5 per cent.