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HomeBondsDebt Public Issues: An Alternate Avenue For Investors

Debt Public Issues: An Alternate Avenue For Investors

In the current financial landscape, several Non-Convertible Debenture (NCD) issues have taken centre stage, providing investors with compelling opportunities. Among the notable ongoing offerings is 360 ONE Prime Limited with established entities like Muthoot Finance Ltd, Edelweiss Financial Services Limited, and Muthoot Fincorp Limited, also entering the market with their respective NCDs. As investors navigate the dynamic investment environment, these live NCD issues present avenues for capital deployment, each with its unique features and potential returns.

360 ONE Prime Limited is issuing Secured, Redeemable, Non-Convertible Debentures (NCDs) with a base issue size of Rs 1,000 crores and a shelf issue size of Rs 1,500 crores. The issue is open from January 11, 2024 to January 15, 2024, and the NCDs are priced at Rs 1,000 each with a face value of Rs 1,000. The minimum lot size is 10 NCDs and the market lot is 1 NCD. The NCDs will be listed on the BSE and have been rated “CRISIL AA/Stable” by CRISIL Ratings Limited and “[ICRA]AA (Stable)” by ICRA Limited. The tenor of the NCDs is 18, 24, 36, or 60 months, and they will be issued in Series I to VIII. The payment frequency is monthly or annually, and the allotment will be on a first come first serve basis. Beacon Trusteeship Limited is the debenture trustee.

Coupon Rates 

Particulars  Series 1  Series 2  Series 3  Series 4  Series 5  Series 6  Series 7  Series 8 
Frequency of Interest Payment  Monthly Annual Monthly Annual Monthly Annual Monthly Annual
Nature  Secured Secured Secured Secured Secured Secured Secured Secured
Tenor  18 Months 18 Months 24 Months 24 Months 36 Months 36 Months 60 Months 60 Months
Coupon (% per Annum)  8.91% 9.22% 9.03% 9.41% 9.21% 9.61% 9.26% 9.66%
Effective Yield (% per Annum)  9.26% 9.27% 9.40% 9.40% 9.60% 9.60% 9.65% 9.65%
Amount on Maturity (In Rs.)  Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00

 

Muthoot Finance is offering Secured, Redeemable, Non-Convertible Debentures (NCDs) in Tranche III, open for subscription from January 8, 2024 to January 19, 2024. The base issue size is Rs 100 crores with a shelf limit of Rs 900 crores, and the NCDs are priced at Rs 1,000 each with a face value of Rs 1,000. They are available in tenors of 24, 36, and 60 months, with monthly and annual payment options. The NCDs are listed on the BSE and have a credit rating of [ICRA] AA+/Stable by ICRA Limited. Allotment will be on a first-come, first-served basis, and IDBI Trusteeship Services Ltd is the debenture trustee.

Coupon Rates 

Particulars  Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7
Frequency of Interest Payment  Monthly Monthly Annual Annual Annual NA NA
Nature  Secured Secured Secured Secured Secured Secured Secured
Tenor  36 Months 60 Months 24 Months 36 Months 60 Months 36 Months 60 Months
Coupon (% per Annum)  8.25% 8.25% 8.25% 8.50% 8.50% NA NA
Effective Yield (% per Annum)  8.75% 8.75% 8.75% 9.00% 9.00% 9.00% 9.00%
Amount on Maturity (In Rs.)  Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,295.03 Rs 1,538.62

Muthoot Fincorp Limited is offering secured, redeemable, non-convertible debentures (NCDs) with a base issue size of Rs 75 crores and a shelf issue size of Rs 1,100 crores. The issue is open from January 12, 2024, to January 25, 2024, with an issue price of Rs 1,000 per NCD. The NCDs have a face value of Rs 1,000 each, a minimum lot size of 10 NCDs, and will be listed on the BSE. They have a CRISIL AA-/Stable credit rating, tenors of 24, 36, 60, and 96 months, and offer monthly, annual, and cumulative payment frequencies. The allotment will be on a first-come, first-served basis, and Vardhman Trusteeship Private Limited will serve as the debenture trustee.

Read: Publicly Listed Credit Rating Agencies in India

Coupon Rates 

Particulars  Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7 Series 8 Series 9 Series 10
Frequency of Interest Payment  Monthly Monthly Monthly Annual Annual Annual Cumulative Cumulative Cumulative Cumulative
Nature  Secured Secured Secured Secured Secured Secured Secured Secured Secured Secured
Tenor  24 Months 36 Months 60 Months 24 Months 36 Months 60 Months 24 Months 36 Months 60 Months 96 Months
Coupon (% per Annum)  8.90% 9.15% 9.35% 9.25% 9.50% 9.75% NA NA NA NA
Effective Yield (% per Annum)  9.26% 9.53% 9.75% 9.25% 9.50% 9.75% 9.25% 9.50% 9.75% 9.05%
Amount on Maturity (In Rs.)  Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,194.00 Rs 1,313.00 Rs 1,592.00 Rs 2,001.00
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