Regency Fincorp Approves NCD Redemption and New Issuance
Regency Fincorp Ltd announced board approval for the redemption of 95% of its Secured, Rated, Listed, Non-Convertible Debentures (ISIN INE964R07051) totaling ₹23.75 Crores. Concurrently, the company approved the private placement issuance of 30,000 units of Secured, Rated, Listed, Non-Convertible Debentures with a face value of ₹10,000 each, aggregating to ₹30 Crores. The new NCDs will have a tenure of 370 days, offer 14% annual interest payable monthly, and will be secured by a first-ranking charge over the company's receivables with a minimum security cover of 1.25x. Catalyst Trusteeship Limited has been appointed as the Trustee and Credora Partners Private Limited as the Merchant Banker for the new issuance.
Key Highlights
- Redemption of 95% of existing NCDs (ISIN INE964R07051) approved.
- New NCD issuance of ₹30 Crores via private placement approved.
- New NCDs offer 14% annual interest, payable monthly.
- Trustee and Merchant Banker appointed for the new NCD issuance.
- New NCDs secured by a 1.25x charge on company receivables.
Price Impact
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