New Delhi: Mahindra & Mahindra Monetary Providers (Mahindra Finance) on Tuesday stated it has raised an quantity aggregating Rs 500 crore by issuing secured bonds. A gathering of the committee of the board was held on Tuesday, February 15, 2022, approving the allotment of 5,000 secured redeemable non-convertible debentures aggregating to Rs 500 crore, Mahindra Finance stated in a regulatory submitting.
The tenure of the bonds is 2 years and 12 months from the deemed date of allotment of the bonds, which is February 15, 2022. The bonds are set to mature on February 14, 2025.
The bonds will bear rate of interest at benchmark plus unfold per cent payable yearly. The unfold is 1.65 per cent every year.
The unfold will stay fixed in the course of the tenor of the instrument, Mahindra Finance stated.