Submission of Outcome of Board Meeting for Issuanc of Listed rated secured redeemable non convertible debenture.
Price
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Regency Fincorp Limited's board has approved issuance of 1,000 units of Secured, Rated, Listed, Non-Convertible Debentures (NCD) worth INR 10 crores on private placement basis. Each NCD has a face value of INR 1 lakh with a tenure of 19 months. The debentures carry an interest rate of 15% p.a. payable monthly, with principal repaid in 19 equal monthly installments. The securities are secured by 1.25x exclusive charge on receivables (performing loans) and additional pari-passu charge on current and fixed assets if coverage drops. The NCDs will be listed on BSE with Catalyst Trusteeship Limited as trustee.
The high 15% interest rate indicates aggressive borrowing costs, which may signal financial stress or funding challenges for the NBFC. Monthly principal repayment obligations could impact cash flows. Existing shareholders should monitor debt servicing capacity.