Allotment of Secured Redeemable Non-Convertible Debentures on private placement basis.
BAJAJHFL · price
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Bajaj Housing Finance has allotted 50,000 secured redeemable NCDs worth Rs. 500 crore at a face value of Rs. 1 lakh each on private placement basis. The debentures carry a coupon rate of 7.83% p.a. with annual and maturity coupon payments. The tenure is approximately 3 years (1,096 days) with maturity on 18 May 2029. The NCDs are secured by a first pari-passu charge on book debts and loan receivables with 1.0x asset cover. The debentures will be listed on the Wholesale Debt Market segment of BSE Limited.
This is a routine debt raise by Bajaj Housing Finance at market rates (7.83%), indicating healthy appetite for the company's paper. The issuance supports the company's lending operations and capital structure without diluting equity.