By Susanna Moon
Chicago, June 23 – Mahindra & Mahindra Ltd. notified the Bombay Stock Exchange that it allotted Rs. 1.25 billion of 7.65% secured redeemable debentures due June 21, 2019.
The notes will be sold at a face value of Rs. 1 million each, with the issue approved at a meeting held Friday, according to a notice.
Mahindra is also considering the issue of subordinated redeemable debentures with a shelf limit of Rs. 200 billion, according to a separate company notice.
The allotment will be considered at a board meeting set for June 29.
Mahindra & Mahindra Ltd. is a Mumbai-based manufacturer of tractors and light commercial vehicles.
| Issuer: | Mahindra & Mahindra Ltd.
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| Issue: | Secured redeemable debentures
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| Amount: | Rs. 1.25 billion
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| Maturity: | June 21, 2019
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| Coupon: | 7.65%
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| Allotment date: | June 23
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