GLAS supports Paisalo Digital Limited through US$50M bond issuance

GLAS is pleased to have supported Paisalo Digital Limited (PDL) raise US$50M through a Foreign Currency Convertible Bond.

A cross-border team from Sydney, London and Singapore ensured the successful completion of this transaction in which GLAS played several roles.

GLAS’ global DCM expertise meant our team were entrusted to act as Principal Paying and Conversion Agent, Registrar, Transfer Agent, Trustee and Settlement Agent on the transaction.

The initial bond issuance raised US$50M, with the Issuer having the opportunity to subscribe for, or procure subscribers, for up to an additional US$25M exercisable within 60 days of the issue date.

The US$50M will support PDL’s efforts to fortify the company’s capital base, borrowing profile and support ongoing business initiatives.

About Paisalo Digital Limited

PDL is an urban, semi-urban and rural focused Non-Deposit taking Systemically Important – Non-Banking Finance Company (“NBFC- NDSI”) and a Non- Banking Financial Company-Middle Layer (“NBFC-ML”), registered with the Reserve Bank of India (“RBI”) with a geographically diversified presence in India providing financial services predominantly to women customers and small and medium sized businesses.

About GLAS

GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.

GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of $490bn of assets under administration on a daily basis. For more information, contact media@glas.agency.