HDB Financial Services Allots ₹1000 Cr Secured NCDs

HDB Financial Services Ltd announced the allotment of 1,00,000 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total issue size aggregates to ₹10,00,00,00,000 (₹1000 Crores). The NCDs have a face value of ₹1,00,000 each and a tenure of 1068 days, maturing on June 04, 2029. The coupon rate offered is 7.8998% per annum, with interest and principal payments scheduled on June 04, 2027, June 04, 2028, and maturity on June 04, 2029. The NCDs are secured by a first and exclusive charge over the company's present and future receivables, with a minimum asset cover of 1 time. These debentures are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.