Bajaj Housing Finance Limited has informed the Exchange about issue of Securities
BAJAJHFL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bajaj Housing Finance has allotted 50,000 Secured Redeemable NCDs worth Rs. 500 crore on private placement basis. Each debenture has a face value of Rs. 1 lakh with a coupon rate of 7.83% per annum payable annually and on maturity. The NCDs will mature on 18 May 2029 (approximately 3-year tenure). The debentures are secured by a first pari-passu charge on the company's book debts and loan receivables with 1.0x security cover. These debentures will be listed on the Wholesale Debt Market segment of BSE Limited. This is a standard debt-raising exercise by the housing finance company to fund its lending operations.
The NCD issuance adds Rs. 500 crore to the company's debt obligations at a reasonable cost of 7.83%. This is neutral to mildly positive for equity shareholders as it indicates the company is actively raising capital to support its growth in the housing finance segment. The secured nature and listing provide investor confidence.