Bajaj Finance Allots Rs 5,000 crore Secured NCDs in Private Placement
Allotment of Securities
NCD Allotment Details
- Allotted 500,000 secured NCDs at Rs 1 Lakh face value, total Rs 5000 crore.
- Listing proposed on Wholesale Debt Market Segment, BSE Limited.
- ISIN: INE296A07UE3.
- Tenure: 3653 days; maturity 27 August 2036.
- Coupon: 8.15% p.a.; first coupon 27 Aug 2027; annual thereafter.
- Asset cover: 1.10x for original investors; 1.0x for subsequent investors, pari-passu.
- Redemption: redeemable at maturity.
- Charge: first pari-passu charge over assets.
- Credit downgrade mechanics: up to 25 bps increase if rating downgrade to AA- or below.
- Recall right: can recall outstanding principal if rating falls to A or below with 30 days' notice.