Cholamandalam Investment and Finance Company has announced the successful allotment of 31,700 Secured Non-Convertible Securities. The issuance, conducted via private placement on the NSE EBP platform, raised ₹317 crore. These securities carry a coupon rate of 8.08% and are set for a tenure of 3 years and 15 days, with a maturity date of June 5, 2029.
Debt Issuance Summary
The company has successfully completed the private placement of its latest debt offering, securing ₹317 crore through the issuance of 31,700 non-convertible securities. The issuance was part of a larger planned size of ₹1,000 crore, which includes a green shoe option of ₹635 crore. These instruments are officially listed on the Wholesale Debt Market (WDM) segment of the National Stock Exchange.
Key Terms and Maturity
The securities have been issued with a tenure of 1,111 days (3 years and 15 days). Investors will receive an annual coupon payment of 8.08%, with the first payment scheduled for June 5, 2026. The final maturity date for the issuance is set for June 5, 2029. Furthermore, the issue maintains a re-issue yield of 8.35% and is fully secured at 1x coverage, providing clarity on the terms for stakeholders.
Source: BSE
