MAS Financial Services allots 140 crore rupees NCDs at 8.70 percent coupon

MASFIN · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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AI summary

MAS Financial Services allotted 14,000 secured, rated, listed, redeemable non-convertible debentures on private placement basis. Face value INR 1 lakh each, aggregating INR 140 crore. Coupon is 8.70 percent per annum, payable quarterly, with a 24 month tenure maturing on June 24, 2028. Rated CARE AA- with stable outlook. To be listed on BSE Wholesale Debt Market segment. Total issue size was INR 150 crore including a INR 50 crore green shoe option. Secured by first charge on book debts and loan receivables with 1.1 times asset cover. Issue price is at par.

Likely market impact

Raises INR 140 crore via NCDs to boost lending capacity; no equity dilution, but adds to interest and repayment obligations over two years.