The bonds, in the nature of non-convertible debentures, are allotted Monday and will mature on January 28, 2028 after two years, three months and 15 days, the company said Monday in a stock exchange filing. The bonds are placed privately.
The company said the first interest payment will be made on January 28, 2026 and annually thereafter. This is the lowest coupon at which it raised through bond issuances since July.
Fixed income markets face complexity as global and domestic forces necessitate a defensive stance, particularly on duration. The RBI’s ability to lower rates is constrained by external pressures, leading to a widening gap between policy and market yields. Bandhan AMC has shifted to an underweight duration position, reducing exposure to long-duration government securities.
The mortgage lender taps the bond market on a regular basis for growth funding. In the second quarter between July 1 to September 30, it raised a total of Rs 4008 crore.
Its assets under management stood at Rs 1.27 lakh crore at the end of September, reflecting a 24% year-on-year growth. It disbursed about Rs15,900 crore in the second quarter as compared with Rs 12,014 crore in the year ago period.
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