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Fusion Finance Allots NCDs Worth Rs 160 Crore at 10.95% Interest
Fusion Finance Limited has successfully allotted 16,000 secured, rated, and listed Non-Convertible Debentures (NCDs) on a private placement basis, raising a total of Rs 160 crore. The debentures carry a coupon rate of 10.95% per annum with interest payments scheduled every nine months. The instruments have a three-year tenure, with maturity set for December 16, 2028. This fundraise is secured by a 1.10x charge on the company's receivables, providing a safety buffer for the lenders.
Key Highlights
Allotment of 16,000 NCDs with a face value of Rs 1,00,000 each, aggregating to Rs 160 crore.
Coupon rate fixed at 10.95% per annum, payable at intervals of 9, 18, 27, and 36 months.
Three-year tenure with the final maturity date scheduled for December 16, 2028.
Debt is secured by a first-ranking exclusive charge of 1.10x over the company's receivables.
💼 Action for Investors
The successful fundraise at a 10.95% rate indicates steady lender confidence in the company's credit profile. Investors should monitor how effectively the company deploys this capital to maintain its net interest margins.