Mahindra Finance Approves ₹2,000 Cr NCD Issue
Mahindra & Mahindra Financial Services Ltd announced that its Debenture Issuance Committee has approved the private placement offer and issuance of Secured, Rated, Listed, Redeemable Non-convertible Debentures (NCDs) worth up to ₹2,000 crore. The issue comprises a base size of ₹1,000 crore with a green shoe option of an additional ₹1,000 crore. The NCDs will have a tenure of 2 years and 364 days (1095 days) and will carry a fixed coupon rate of 7.95% per annum. The deemed date of allotment is September 29, 2026, with maturity on September 28, 2029. The NCDs will be listed on the Wholesale Debt Market Segment of BSE Limited and will be secured by an exclusive charge on the company's receivables, owned assets, and book debts.
Key Highlights
- Mahindra Finance to issue NCDs worth up to ₹2,000 crore via private placement.
- NCDs will have a tenure of 1095 days with a 7.95% fixed coupon rate.
- Issue size includes a base of ₹1,000 crore and a ₹1,000 crore green shoe option.
- NCDs will be secured by charge on receivables, owned assets, and book debts.
- Maturity date set for September 28, 2029.
Price Impact
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