New Issue: India’s Bajaj Finance prices Rs. 350 million debentures due 2019 to yield 8.7%

By Tanya Meyer

Chicago, Jan. 20 – Bajaj Finance Ltd. priced Rs. 350 million of secured, redeemable, non-convertible 0% debentures due March, 29, 2019 to yield 8.7%, according to a news release.

The debentures, with a face value of Rs. 1 million each, will be issued on a private placement basis and listed on the wholesale debt market segment of the BSE Ltd.

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.
Issue:	Secured, redeemable, non-convertible debentures
Amount:	$350 million
Maturity:	March 29, 2019
Coupon:	0%
Price:	Par of Rs. 1 million
Redemption price:	Rs. 130.5079
Yield to maturity:	8.7% XIRR
Allotment date:	Jan. 19

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