Bajaj Finance raises Rs 755 cr by issuing bonds on private placement basis

Bajaj Finance Ltd on Thursday said it has raised Rs 755 crore by issuing bonds on a private placement basis.

The Debenture Allotment Committee of the company, at its meeting held on December 3, 2020, has allotted 7,550 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 755 crore, Bajaj Finance said in a regulatory filing.

The bonds, having tenor of 729 days, will bear coupon rate of 4.66 per cent per annum. The NCDs are rated Crisil AAA with stable outlook by Crisil Ltd, Bajaj Finance said.

Shares of Bajaj Finance on Thursday closed 0.94 per cent higher at Rs 4,867.55 apiece on the BSE.