New Issue: India’s Bajaj Finance prices Rs. 5.29 billion in redeemable debentures

By Tali Rackner

Norfolk, Va., Sept. 16 – Bajaj Finance Ltd. priced Rs. 5.29 billion of secured redeemable nonconvertible debentures with four options maturing on Sept. 16, 2019, and Sept. 11, 2019, according to a notice.

The first option bears interest at 7.9%. The second, third and fourth options carry no coupon and the yield to maturity rate was 7.9% XIRR.

The 5,290 debentures, with a face value of Rs. 1 million each, will be issued on a private placement basis and listed on the wholesale debt market segment of the BSE Ltd.

Bajaj Finance is a Pune, India-based company with a focus on consumer finance, small- and medium-sized enterprise finance, commercial lending and investment services.

Issuer:	Bajaj Finance Ltd.
Issue:	Secured redeemable nonconvertible debentures
Amount:	Rs. 5.29 billion
Allotment date:	Sept. 16
Option I
Redemption amount:	Rs. 1 million per Rs. 1 million debenture
Coupon:	7.9%
Maturity:	Sept. 16, 2019
Option II
Redemption amount:	Rs. 1,256,216 per Rs. 1 million debenture
Coupon:	0%
Yield to maturity:	7.9% XIRR
Maturity:	Sept. 16, 2019
Option III
Redemption amount:	Rs. 1,254,910 per Rs. 1 million debenture
Coupon:	0%
Yield to maturity:	7.9% XIRR
Maturity:	Sept. 11, 2019
Option IV
Redemption amount:	Rs. 1 million per Rs. 1 million debenture
Coupon:	0%
Yield to maturity:	7.9% XIRR
Maturity:	Sept. 11, 2019

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