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Mahindra & Mahindra Financial Services Raises INR9.35 Billion via Debt Issue

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Mahindra & Mahindra Financial Services (NSE:M&MFIN, BOM:532720) has raised 9.35 billion Indian rupees by issuing 93,500 non-convertible debentures on a private placement basis.

The company issued secured, rated and listed redeemable NCDs carrying a fixed coupon rate of 7.90% per annum, according to a Thursday stock exchange filing. It includes a base issue of 5 billion rupees and a greenshoe option of 4.35 billion rupees.

The debentures are proposed to be listed on the wholesale debt market segment of BSE.

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