By Sarah Lizee
Olympia, Wash., Nov. 14 – Mahindra & Mahindra Financial Services Ltd. informed the Bombay Stock Exchange that it allotted Rs. 5.53 billion of secured redeemable nonconvertible debentures in two series.
The Rs. 3 billion of series AO debentures have a 9.3434% coupon and will mature on March 17, 2020.
The Rs. 2.53 billion of series AP debentures have a 9.4745% coupon and will mature on March 22, 2022.
The debentures will be listed on the wholesale debt market segment of the BSE Ltd.
The issue was approved at a committee meeting held Wednesday, according to a notice.
Mahindra is a Mumbai-based manufacturer of tractors and light commercial vehicles.
| Issuer: | Mahindra & Mahindra Financial Services Ltd.
|
| Issue: | Secured redeemable nonconvertible debentures
|
| Amount: | Rs. 5.53 billion
|
| Allotment date: | Nov. 14
|
|
|
| Debentures due 2020
|
| Amount: | Rs. 3 billion
|
| Tenor: | One year and 124 days
|
| Maturity: | March 17, 2020
|
| Coupon: | 9.3434% (XIRR: 9.4%)
|
|
|
| Debentures due 2022
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| Amount: | Rs. 2.53 billion
|
| Tenor: | Three years and 128 days
|
| Maturity: | March 22, 2022
|
| Coupon: | 9.4745% (XIRR: 9.5%)
|
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