Home First Finance Allots ₹150 Cr NCDs to Kotak Mahindra Bank
Home First Finance Company India Ltd has announced the allotment of 15,000 Non-Convertible Debentures (NCDs) to Kotak Mahindra Bank Ltd. The total nominal value of these NCDs is ₹150 crore. These are senior, secured, rated, listed, taxable, redeemable, and transferable NCDs, denominated in INR. The NCDs have a face value of ₹1,00,000 each and will be redeemed after approximately 59 months and 25 days from the allotment date of August 28, 2026, maturing on August 22, 2031. The coupon rate is a floating rate, benchmarked against the 3-month OIS lending rate derived from MIBOR plus a spread of 2.16%, resulting in an initial rate of 7.55% per annum, payable quarterly. The NCDs are secured by a first-ranking pari passu charge over the company's receivables.
Key Highlights
- Home First Finance allotted ₹150 crore in NCDs.
- Kotak Mahindra Bank is the sole subscriber to the NCD issue.
- NCDs carry a coupon rate of 7.55% per annum, payable quarterly.
- Maturity date for the NCDs is August 22, 2031.
- NCDs are secured by a charge on the company's receivables.
Price Impact
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