Allotment of Non-Convertible Debentures
MASFIN · price
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MAS Financial Services has allotted 36,000 senior, secured, rated, listed non-convertible debentures (NCDs) worth INR 360 crore to FMO (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.), a Dutch development finance institution, on a private placement basis. Each debenture has a face value of INR 1 lakh with a 5-year tenure maturing on May 20, 2031. The NCDs are rated CARE AA-/Stable, secured by a first-ranking exclusive charge over identified assets and receivables with a 1.1x asset cover. Coupon payments will be made semi-annually at a variable rate (base rate + cost of funds spread + margin), with principal repayable in 6 instalments. The NCDs will be listed on BSE's Wholesale Debt Market.
The NCD issuance raises INR 360 crore in debt capital from an institutional investor, providing funding for MAS Financial's lending operations. The AA- rating reflects strong creditworthiness, and the FMO backing indicates international institutional confidence in the company.