Mahindra & Mahindra Financial Services : Allotment of Securities
February 15, 2022 at 02:17 am
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Mahindra FINANCE
Page No. 2
Annexure 'A'
Issuance of Debt Securities
Sr. No.
Requirements of disclosure
Details
(i)
Size of the issue
:
Series AB2022 - Rs. 500 Crores
(ii)
Whether proposed to be listed?
:
Yes
If yes, name of the stock
Wholesale Debt Market Segment of BSE Limited.
exchange(s)
(iii)
Tenure of the instrument
:
2 years & 365 days from the Deemed date of
allotment
Deemed date of allotment and
:
15th February 2022
Date of maturity
:
14th February 2025
(iv)
Coupon/interest offered
:
(Benchmark + Spread) % p.a. payable annually
(v)
Spread
:
1.65% p.a. The spread will remain constant during
the tenor of the instrument
(vi)
Benchmark
:
Benchmark shall be arrived as simple average of
the 3 month T-Bill's closing yields for previous 10
working days prior to the coupon reset date
(rounded off to nearest two decimals).
3 month T-bill yield as published by Financial
Benchmarks India Pvt. Ltd. ("FBIL") on the FBIL'S
website https://www.fbil.org.in/
In case of non-availability of the rate from FBIL, the
3 month T- bill yield on Bloomberg shall be
considered.
(vii)
Coupon Reset Dates
:
The coupon rate shall be reset every quarter.
First Interest Payment,the reset dates are 9th
February 2022, 15th May 2022, 15th August 2022
and 15th November, 2022.
Second Interest Payment, the reset dates are 15th
February 2023, 15th May 2023, 15th August 2023
and 15th November 2023.
Third Interest Payment, the reset dates are 15th
February 2024, 15th May 2024, 15th August 2024
and 15th November, 2024.
CIN : L65921MH1991PLC059642
Email: investorhelpline_mmfsl@mahindra.com
Mahindra FINANCE
Page No. 3
(viii)
Initial Reset Coupon Rate
:
The coupon rate for the first reset date 9th
February 2022 shall be simple average rate of 3
month T-bill from 24th January 2022 to 8th February
2022 i.e. 3.77% plus 1.65% that arrives to 5.42%
p.a.
Schedule
of
payment
of
:
Annually - 15th February 2023, 15th February 2024
(ix)
Coupon/interest and principal
& On Maturity 14th February 2025.
(x)
Charge/Security,
if any, created
:
Debentures shall be secured by way of exclusive
over the assets
charge in favour of the Debenture Trustee on
present and/or future receivables under Loan
contracts/Hire Purchase/Lease, owned Assets and
Book debts to the extent of 100% of Debenture
outstanding.
(xi)
Special
rights/interest/privileges
:
Nil
attached to the instruments and
changes thereof
(xii)
Delay
in
payment
of
:
N.A.
interest/principal amount for
a
period of more than three months
from the due date or default in
payment of interest/principal
(xiii)
Details of any letter or comments
:
N.A.
regarding
payment/non-payment
of interest, principal on due dates,
or any other matter concerning the
security and/or the assets along
with its comments thereon, if any.
(xiv)
Details
of
redemption
of
:
Redemption at par at the end of 2 years & 365 days
Debentures
from the Deemed date of Allotment.
Mahindra & Mahindra Financial Services Limited
Vivek Karve
Chief Financial Officer & Group Financial Services Sector
CIN : L65921MH1991PLC059642
Email: investorhelpline_mmfsl@mahindra.com
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Mahindra & Mahindra Financial Services Limited published this content on 15 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2022 07:16:04 UTC.
Mahindra and Mahindra Financial Services Limited is an India-based non-banking finance company. The Company is offering products and services to a customer base in India's semi-urban and rural areas. The Company's segments include financing activities and other reconciling items. The financing activities segment includes financing and leasing of automobiles, tractors, commercial vehicles, small and medium enterprises (SMEs) and housing finance. The Company's SME loans include project finance, equipment finance and working capital finance. The Company provides housing loans for purchase, construction, extension and renovation. The other reconciling items segment includes insurance broking, asset management services and trusteeship services. It also provides on-site financing at dealerships. Its international offerings include wholesale inventory financing to dealers and retail financing to customers in the United States for the purchase of Mahindra Group products.