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Mahindra & Mahindra Financial raises 10.56B rupees in debt issue

Mahindra & Mahindra Financial Services Ltd. raised 10.56 billion Indian rupees through the issuance of nonconvertible debentures in two tranches.

The company said Dec. 12 that it issued 5 billion rupees of 9.3434% debentures due March 17, 2020, and 5.56 billion rupees of debentures due March 29, 2022. The debentures will be listed on the wholesale debt market segment of BSE Ltd.

As of Dec. 12, US$1 was equivalent to 71.85 Indian rupees.