Bajaj Housing Finance allots secured NCDs worth Rs 1,501 crore privately
BAJAJHFL · price
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On the reaction day the stock moved 1.8 pts less than Nifty Midcap 150 and 1.2 pts less than its Housing Finance Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bajaj Housing Finance has allotted 1,50,000 secured redeemable non-convertible debentures on private placement basis, aggregating Rs 1,501.0655 crore at face value of Rs 1 lakh each. The NCDs carry a coupon of 7.53 percent per annum with annual interest payments, tenure of 1,179 days maturing on 28 September 2029, and are secured by a first pari-passu charge on book debts. The debentures will be listed on the BSE wholesale debt segment.
Routine debt raise for the HFC. The 7.53 percent coupon reflects current borrowing cost and funds business growth without equity dilution.