Allotment of Secured Redeemable Non-Convertible Debentures on Private Placement Basis
BAJFINANCE · price
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Bajaj Finance has allotted 1,02,500 Secured Redeemable NCDs worth Rs. 1,025 crore via private placement. Each debenture has a face value of Rs. 1 lakh with a coupon rate of 8.08% p.a., payable annually. The tenure is 10 years (maturing 20 May 2036) with a put option available to investors at the end of 3 years (21 May 2029). The debentures are secured by a first pari-passu charge on the company's book debts and loan receivables with 1.0x security cover. These NCDs will be listed on the BSE Wholesale Debt Market segment.
This is a routine debt issuance by Bajaj Finance to raise long-term capital for lending operations. The 8.08% coupon is in line with current market rates for high-quality NBFCs, and the put option at year 3 provides flexibility to investors. No direct impact on equity shareholders, but successful fundraising supports the company's growth trajectory.