Allotment of Secured Redeemable Non-Convertible Debentures (NCD) on Private Placement Basis.
BAJFINANCE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bajaj Finance has allotted 2,89,200 secured NCDs totalling Rs. 2,892.42 crore via private placement. The issuance comprises two tranches: Option I of Rs. 1,070.42 crore carrying a 7.77% coupon maturing April 2029 (tenor ~1071 days), and Option II of Rs. 1,822 crore at 8.00% maturing May 2031 (tenor ~1826 days). Both tranches will be listed on BSE's Wholesale Debt Market segment and are secured by a first pari-passu charge on the company's book debts and loan receivables with a minimum 1.0x asset cover.
Bajaj Finance is raising cost-effective debt capital to fund its lending operations. The Rs. 2,892 crore raise at rates of 7.77-8.00% reflects standard market pricing for a high-quality NBFC issuer and should be neutral to shareholders.