Allotment of Secured Redeemable Non-Convertible Debentures on private placement basis.
Awaiting price reaction for this filing.
Bajaj Finance Limited has allotted 50,000 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis, aggregating to Rs. 505.13 crore. Each NCD has a face value of Rs. 1 lakh and carries an annual coupon of 7.2337%, with the first interest payment due on 28 June 2026. The NCDs are secured by a first pari-passu charge on the company's book debts and loan receivables, with a minimum security cover of 1.00 times. The instruments have a residual tenure of 759 days, maturing on 28 June 2027, and are proposed to be listed on the Wholesale Debt Market Segment of BSE.
This is a routine debt raise of Rs. 505 crore at a competitive market rate, which will bolster Bajaj Finance's lending capacity. No material impact on equity shareholders as these are non-convertible secured debentures.