Regency Fincorp board approves INR 50 crore NCD issuance at 13.50%
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Regency Fincorp board approved issuing 50,000 secured, rated, listed NCDs of INR 10,000 each, totaling INR 50 crores, on private placement basis. Coupon is 13.50% per annum, payable monthly, with principal repayment quarterly over 15 months. Secured by 1.25x asset cover. To be listed on BSE. Catalyst Trusteeship is trustee, Credora Partners is merchant banker.
Raises INR 50 crore debt at a high 13.50% rate; no equity dilution but signals aggressive fundraising and higher interest burden ahead.