Issuance of Secured Rated Listed NCD

Regency Fincorp's board approved issuing 7,500 secured, rated, listed non-convertible debentures (NCDs) of Rs 1 lakh face value each, aggregating to Rs 75 crore, on a private placement basis in one or more tranches. The first tranche of Rs 50 crore (Rs 25 crore base issue + Rs 25 crore green shoe option) is proposed to be listed on BSE with a tenure of 12 months and 5 days. The NCDs carry a 14% per annum coupon payable monthly, backed by a 1.25x security cover. Infomerics Valuation and Rating was appointed as credit rating agency and Catalyst Trusteeship as debenture trustee. Separately, Independent Director Mr. Kamal Kumar resigned, Mr. Sunil Jindal ceased to be a director after failing to attend any of the 21 board meetings in the last 12 months (disqualification under Section 167(1)(b)), and Dr. Sachin Garg was appointed as a new Independent Director.