Allotment of Secured Redeemable Non-Convertible Debentures on Private Placement basis
BAJAJHFL · price
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Bajaj Housing Finance has allotted 95,500 Secured Redeemable NCDs at Rs 1 lakh face value each, raising Rs 955 crore via private placement. The debentures carry a 7.90% annual coupon with annual interest payments and mature on 12 May 2031 (approx 5-year tenure). The NCDs are secured by a first pari-passu charge on book debts and loan receivables with 1.0x security cover. The securities are proposed to be listed on BSE's Wholesale Debt Market segment.
The NCD issuance provides debt capital for the housing finance company's lending operations. The 7.90% coupon rate is competitive and signals strong creditworthiness. The transaction has no direct equity impact but reinforces the company's funding base.