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The latest announcement is out from HDB Financial Services Limited ( (IN:HDBFS) ).
HDB Financial Services Limited has raised Rs 8.62 billion through a private placement of 81,000 secured redeemable non-convertible debentures, each with a face value of Rs 100,000. The issue, carrying a coupon of 7.5519% with XIRR of 7.50% and a tenure of 1,136 days, is proposed to be listed on the Wholesale Debt Market segment of BSE.
The debentures are backed by a first and exclusive charge over the company’s present and future receivables, with a minimum asset cover of one times the outstanding principal and accrued interest. The annual coupon will be paid every April until maturity on April 4, 2029, with redemption at par, underscoring the company’s continued reliance on secured bond issuances to fund its lending portfolio.
More about HDB Financial Services Limited
HDB Financial Services Limited is a non-banking financial company in India, providing retail lending, commercial finance and other credit-linked services to individuals and businesses. The company focuses on secured and unsecured loan products and uses debenture issuances and other debt instruments to support its lending operations and balance sheet growth.
Average Trading Volume: 55,361
Technical Sentiment Signal: Strong Sell
Current Market Cap: 601B INR
For a thorough assessment of HDBFS stock, go to TipRanks’ Stock Analysis page.