Following are the details of NCD issue of Mahindra & Mahindra financial services limitedIssuer: Mahindra & Mahindra Financial Services limited.
Issue Opening date: Wednesday, May 25, 2016
Issue closing date:Friday, June 10, 2016
Allotment: first come first serve basis
Face Value: Rs. 1000 per NCD
Issue price: Rs. 1000 per NCD
Nature of instrument: Unsecured Subordinated Redeemable Non- convertible debentures
Minimum Application: Rs.10000(10 NCD) and in multiple of Rs. 1000(1 NCD) thereafter across all series.
Listing: BSE
Rating: “CARE AAA” by CARE, “IND AA” by India rating.
SPECIFIC TERMS FOR EACH SERIES OF BONDS
| Series | I | II | III | IV | V | VI | VII | VIII | IX |
| Frequency of Interest Payment | Quarterly | Quarterly | Quarterly | Annual | Annual | Annual | NA | NA | NA |
| Tenor | 66 months | 84 months | 120 months | 66 months | 84 months | 120 months | 66 months | 84 months | 120 months |
| Coupon (%) for Category I and II | 8.34% | 8.44% | 8.53% | 8.60% | 8.70% | 8.80% | NA | NA | NA |
| Coupon (%) for Category III and IV | 8.44% | 8.53% | 8.72% | 8.70% | 8.80% | 9.00% | NA | NA | NA |
| Effective Yield (per annum)* For NCD holders in the Category I and the Category II | 8.60% | 8.71% | 8.80% | 8.61% | 8.70% | 8.80% | 8.60% | 8.70% | 8.80% |
| Effective Yield (per annum)* For NCD holders in the Category III and Category IV | 8.71% | 8.80% | 9.00%
|
8.71%
|
8.80% | 9.00%
|
8.70%
|
8.80% | 9.00%
|
| Redemption Amount (Rs./NCD)
For NCD holders in the Category I and the Category II |
1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,574.75
|
1,793.52
|
2,325.36
|
| Redemption Amount (Rs./NCD)
For NCD holders in the Category III and Category IV
|
1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,582.75 | 1,805.11 | 2,368.4 |
