Allotment of Secured Redeemable Non-Convertible Debentures (NCD) on Private Placement basis
Awaiting price reaction for this filing.
Bajaj Housing Finance has raised ₹3,500 crore by allotting 3,50,000 secured redeemable non-convertible debentures (NCDs) on a private placement basis. The issue is split into two tranches: ₹2,500 crore with a 5-year tenure (maturing June 2030) carrying a coupon of 7.08% per annum, and ₹1,000 crore with a ~2-year tenure (maturing August 2027) carrying a coupon of 6.90% per annum. Each NCD has a face value of ₹1,00,000 and the debentures are secured by a first pari-passu charge on the company's book debts and loan receivables, with a 1x security cover. The NCDs will be listed on the wholesale debt market segment of BSE.
This large ₹3,500 crore debt raise strengthens Bajaj Housing Finance's funding base at competitive rates, supporting its lending growth. For equity shareholders, it dilutes no ownership but increases leverage, which is typical for an HFC business model.