Bajaj Finance Limited has announced the allotment of 50,000 Secured Redeemable Non-Convertible Debentures (NCDs) with a face value of ₹1 Lakh each. The total issue size aggregates to approximately ₹498.22 crore. These NCDs were allotted on a private placement basis and are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited. The debentures have a tenure of 3608 residual days, with the date of maturity set for 4 July 2036, and carry an interest rate of 7.79% per annum.
Bajaj Finance Allots Secured NCDs
Bajaj Finance Limited has successfully completed the allotment of 50,000 Secured Redeemable Non-Convertible Debentures (NCDs) through a private placement. The aggregate value of these NCDs amounts to ₹498.22 crore, based on a face value of ₹1 Lakh per NCD, inclusive of discount and accrued interest. This significant fundraising exercise was approved by the Debenture Allotment Committee of the company.
Key Details of the NCD Issue
The NCDs are proposed for listing on the Wholesale Debt Market Segment of BSE Limited, enhancing their liquidity and accessibility for investors. The instrument carries a tenure of 3608 residual days, with the maturity date scheduled for 4 July 2036. The coupon interest offered is 7.79% per annum, with the first interest payment due on 6 July 2027, followed by annual payments thereafter along with the principal on maturity.
Security and Redemption
The debentures are secured by a first pari-passu charge on book debts and loan receivables, ensuring a security cover of not less than 1.00 time the aggregate outstanding value of the debentures. The NCDs are redeemable on maturity, providing a clear repayment structure for investors. No special rights or privileges are attached to these instruments, and there are no applicable letters or comments regarding payment or non-payment of interest or principal.
Source: BSE
