Bajaj Housing Finance Limited has informed the Exchange about issue of Securities
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Bajaj Housing Finance Limited has allotted 95,500 Secured Redeemable Non-Convertible Debentures (NCDs) worth Rs. 955 crore on a private placement basis. Each NCD has a face value of Rs. 1 lakh with a coupon rate of 7.90% p.a. payable annually. The debentures have a tenure of 1,826 days (approximately 5 years) and will mature on 12 May 2031. The repayment and interest are secured by a first pari-passu charge on the company's book debts and loan receivables with 1.00x security cover. The debentures are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.
This is a standard debt issuance by Bajaj Housing Finance to raise capital for its lending operations. The 7.90% coupon rate reflects current market borrowing costs for a housing finance company. No direct impact on equity shareholders in the short term.