MAS Financial Services raises INR 100 crore via market-linked NCDs (MLD)

The Finance Committee of the Board of Directors of MAS Financial Services Limited MAS Financial BSE 540749 NSE MASFIN, in its meeting held on June 23, 2021 approved and allotted, on a private placement basis, 10,000 Rated, Senior, Secured, Listed, Transferable, Redeemable, Principal Protected Market-linked Non-convertible debentures Market-linked NCDs of face value of INR 100,000, aggregating up to INR 100 crore.

 The Finance Committee of the Board of Directors of MAS Financial Services Limited (MAS Financial) (BSE: 540749) (NSE: MASFIN), in its meeting held on June 23, 2021 approved and allotted, on a private placement basis, 10,000 Rated, Senior, Secured, Listed, Transferable, Redeemable, Principal Protected Market-linked Non-convertible debentures (Market-linked NCDs) of face value of INR 100,000, aggregating up to INR 100 crore. The allotment of 10,000 Market-linked NCDs, was inclusive of a green shoe option comprising 5000 Market-linked NCDs which was activated to retain over-subscription.

The debentures are rated 'CARE PP-MLD A+; Stable' by CARE Ratings Limited. The market-linked NCDs will be listed on the Wholesale Debt Market segment of The BSE Limited with a tenure of 30 months from the date of allotment.

The structuring of these market-linked NCDs will offer a coupon rate of: a. 8.50% if the Reference Index Performance is greater than 75%, and/or b. 8.45% if the Reference Index Performance is equal to or less than 75% but greater than 25%, and/or c. 0% if the Reference Index Performance is lesser than or equal to 25%.

(The Reference Index Performance means the performance of the Reference Index (i.e. 5.85% GS 2030) on the final fixing date in comparison to the initial fixing date.) The Debentures shall be fully redeemed on a pari passu basis on the redemption date i.e., December 23, 2023, by making the redemption payment (being the aggregate of the face value/outstanding principal amount, and the interest amounts in respect of each of the Debentures to be calculated in the manner mentioned above).

About MAS Financial Services Limited (www.mas.co.in) Established in 1995, MAS Financial Services Limited (BSE: 540749) (NSE: MASFIN), is one of India's leading NBFCs that specialises in the last mile delivery of credit. Since more than 2 decades, the Company predominantly focuses on the vast lower income and middle income groups of the society and offers a wide range of retail financing products for Micro Enterprises, Small & Medium Enterprises, Two-Wheeler, Used Car, Commercial Vehicle, and Home Loans through its wholly-owned subsidiary MAS Rural Housing & Mortgage Finance Ltd. (MRHMFL). The Company has a robust pan India presence through 127 strategic partner NBFCs and 99 branches serving 3,450+ locations in rural, semi-urban and urban areas of Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Tamil Nadu, and Karnataka.

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