By Susanna Moon
Chicago, March 10 – Bajaj Finance Ltd. sold Rs. 4.09 billion of secured redeemable debentures in three parts by way of a private placement.
The debentures sold in three options: 7¾% notes due March 31, 2020; zero-coupon bonds due May 6, 2020; and zero-coupon bonds due April 20, 2020, according to a notice.
The zero-coupon bonds were sold to yield 7¾%.
The 409 debentures have a face value of Rs. 1 million each.
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.
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| Issue: | Secured redeemable nonconvertible debentures
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| Amount: | Rs. 4.09 billion
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| Maturity: | March 9, 2020 for option 1, May 6, 2020 for option 2 and April 20, 2020 for option 3
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| Coupon: | 7¾% for option 1, 0% for option 2 and 0% for option 3
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| Yield: | 7¾% for option 2 and option 3 bonds
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| Price: | Par of Rs. 1 million
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| Allotment date: | March 10
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