By Susanna Moon
Chicago, Aug. 1 – Mahindra & Mahindra Ltd. notified the Bombay Stock Exchange that it allotted Rs. 2 billion of 7.4% secured redeemable debentures due 2019.
The notes will be sold at par with a face value of Rs. 1 million each, according to a notice.
The issue was approved at a board meeting set held Tuesday.
Mahindra & Mahindra is a Mumbai-based manufacturer of tractors and light commercial vehicles.
| Issuer: | Mahindra & Mahindra Ltd.
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| Issue: | Secured redeemable debentures
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| Amount: | Rs. 2 billion
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| Maturity: | Aug. 1, 2019
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| Coupon: | 7.4%
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| Allotment date: | Aug. 1
|
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