Cholamandalam Investment and Finance Company Limited has confirmed the allotment of 2,000 crore worth of Unsecured Perpetual Non-Convertible Securities through a private placement on NSE EBP. The securities carry a coupon rate of 8.97% and are perpetual in nature with a call option available on September 2, 2036. This marks a significant financing event for the company.
Cholamandalam Investment Allots Perpetual Securities
Cholamandalam Investment and Finance Company Limited has announced the successful allotment of 2,000 crore in Unsecured Perpetual Non-Convertible Securities. This issuance was conducted via a private placement, utilizing the NSE EBP platform. The securities are structured as perpetual instruments, with a call option exercisable on September 2, 2036.
Key Details of the Allotment
The total value of the allotted securities amounts to 2,000 crore, with an additional 2,000 crore (no green shoe option) specified. These securities will be listed on the WDM Segment of the NSE. The coupon rate for these perpetual securities is set at 8.97% per annum. Interest payments will be made annually on September 1, and also on the call option date of September 2, 2036.
The company confirmed that there are no special rights, privileges, or interests associated with these securities beyond the standard terms. Details regarding delays in interest or principal payments, or any other matters concerning the security, are marked as ‘NA’, indicating no such events have occurred or are currently applicable.
Source: BSE
