MAS Financial Services Limited Approves and Allot 10,000 Rated, Listed, Senior, Secured, Redeemable, Transferable, Taxable, Non-Convertible Debentures
January 16, 2024 at 06:53 am EST
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MAS Financial Services Limited to inform that the meeting of the Finance Committee ("Finance Committee") of the Board of Directors of the Company was held January 16, 2024, and the Finance Committee has, inter-alia, approved and allotted 10,000 rated, listed, senior, secured, redeemable, transferable, taxable, non-convertible debentures denominated in Indian Rupees, each having a face value of INR 1,00,000 and an aggregate face value of INR 100,00,00,000 on a private placement basis. Name of Investor: Satya Microcapital Limited. Tenure of the Instrument - date of allotment and date of maturity: Date of Allotment: January 16, 2024, Date of Maturity: July 16, 2025, Tenure: 18 (eighteen) months. Interest rate: 8.60% per annum, payable monthly. Interest payment dates: The interest/coupon is payable by the Company on the 16 day of each calendar month commencing from
February 16, 2024 until the Final Redemption Date. Principal payment date: The principal amounts are payable by the Company on the Final Redemption Date. Additional interest at 2% per annum over the Interest Rate in respect of the Debentures on the outstanding principal amounts from the date of the occurrence of a Payment Default until such Payment Default is cured or the the Debentures are fully redeemed by the Company.
MAS Financial Services Limited is an India-based non-banking finance company (NBFC). The Company is engaged in providing specialized retail financing services. The Company is engaged in the business of providing micro enterprise loans (MEL), small and medium enterprise loans (SME), two-wheeler loans (TW), commercial vehicle loans (CV) and loans to NBFCs. The Company provides loans for the purchase of new and old houses, construction of houses on owned plots, home improvement loans and loans for purchase and construction of commercial property. Its SME loans include machinery loan, industrial shed loan, working capital loan, and loan against property. It also provides salaried personal loans for various purposes, like child education, home renovation, furniture purchase, family occasion, medical purpose, and other personal purposes. It offers housing loans to customers to expand on their homesteads/ renovate part of their abodes, and construct an extra floor on their homes.