Bajaj Finance Limited has informed the Exchange about issue of Securities
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Bajaj Finance has allotted 2,00,400 Secured Redeemable NCDs worth Rs. 2004.31 crore on private placement. Each debenture has a face value of Rs. 1 lakh with a coupon rate of 7.77% p.a. payable annually. The tenure is 1096 days (approx 3 years), maturing on 17 April 2029. The debentures are secured by a first pari-passu charge on the company's book debts and loan receivables with a minimum 1.0x security cover. The securities will be listed on the BSE Wholesale Debt Market.
This is a standard debt fundraising exercise by Bajaj Finance at a market-competitive rate of 7.77%. The private placement route allows faster execution without public subscription. Given Bajaj Finance's strong credit profile, this issuance is unlikely to signal financial stress and has no immediate dilutive impact on equity shareholders.