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Bajaj Finance issues 15.11B rupees of debentures

Bajaj Finance Ltd. issued 15.11 billion Indian rupees worth of nonconvertible debentures on a private placement basis.

The debentures were allotted March 30, the company said. The secured redeemable debentures were issued with eight tranches.

The tranches maturing June 29, 2020, and June 15, 2020, will bear coupons of 7.8409% and 7.8425%, respectively. The remaining six tranches consist of zero-coupon debentures with a yield to maturity of 7.85% on an extended internal rate of return basis.

As of March 30, US$1 was equivalent to 64.86 Indian rupees.