Updated May 6th, 2024 at 08:19 IST

Bajaj Finance to raise Rs 9,000 crore via 2034 bond reissue

The bonds, which hold AAA ratings from CRISIL and India Ratings, feature a put option expiring on Feb. 8, 2027.

Reported by: Business Desk
Representative | Image:Pexels
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Bajaj Finance bond reissue: Bajaj Finance, a non-banking finance company, is planning to raise up to Rs 9,000 crore, including a greenshoe option of Rs 7,500 crore, through a reissue of 7.82 per cent January 2034 bonds, as reported by three bankers on Monday.

Invitations for bids from banks and investors will be extended on Tuesday, according to the bankers.

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The bonds, which hold AAA ratings from CRISIL and India Ratings, feature a put option expiring on Feb. 8, 2027.

Last week, the Reserve Bank of India lifted restrictions on certain lending products offered by Bajaj Finance, permitting the resumption of "sanction and disbursal of loans" in previously banned business segments.

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In November, India's central bank prohibited Bajaj Finance from issuing loans under its eCOM and Insta EMI Card lending products due to non-compliance with digital lending guidelines.

Bajaj Finance recently raised a total of Rs 1,364 crore through the reissue of bonds maturing in May 2027 and May 2034.

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The shares of Bajaj Finance were one of the few stocks that closed with a gain on BSE on May 3, due to the positive momentum from the RBI’s relaxation to the company. 

(With Reuters inputs)

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Published May 6th, 2024 at 08:19 IST