New Issue: India’s Bajaj Finance issues Rs. 1.37 billion in redeemable debentures

By Wendy Van Sickle

Columbus, Ohio, March 17 – Bajaj Finance Ltd. has issued Rs. 1.37 billion in secured, redeemable, nonconvertible debentures, according to a filing with the Bombay Stock Exchange.

The debentures, with a face value of Rs. 1 million each, were issued on a private placement basis.

The yield to maturity rate for the debentures was 8.85% XIRR.

Bajaj issued the debentures with three options maturing on April 5, 2019, April 15, 2019 and June 4, 2019.

The debentures will be listed on the wholesale debt market segment of the BSE Ltd.

Bajaj Finance is a Pune, India-based non-banking consumer finance, commercial lending and investment company.

Issuer:	Bajaj Finance Ltd.
Issue:	Secured, redeemable, nonconvertible debentures
Amount:	Rs. 1.37 billion
Allotment date:	March 17
Coupon:	0%
Yield to maturity:	8.85% XIRR
Option I
Redemption amount:	Rs. 1,295,396 per Rs. 1 million debenture
Maturity:	April 5, 2019
Option II
Redemption amount:	Rs. 1,298,409 per Rs. 1 million debenture
Maturity:	April 15, 2019
Option III
Redemption amount:	Rs. 1,313,580 per Rs. 1 million debenture
Maturity:	June 4, 2019

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