Toyota Financial Services India Allots Non-Convertible Debentures Worth INR 1,250 Million

Toyota Financial Services India Limited has announced the allotment of 12,500 secured, rated, listed, redeemable, and transferable Non-Convertible Debentures (NCDs) with an issue size of INR 1,250 million. The NCDs have been allotted on a private placement basis.

On July 16, 2024, Toyota Financial Services India Limited (TFSIN) disclosed that its Board of Directors, through a circular resolution, approved the allotment of 12,500 Non-Convertible Debentures (NCDs). These NCDs, part of the 8.20% TFSIN FY 2024-25 Series 47, have a face value of INR 1,00,000 each and were issued on a private placement basis.

Key Details:

• Security Name: 8.20% TFSIN FY 2024-25 Series 47
• Issuer: Toyota Financial Services India Limited
• Type of Instrument: Secured, Rated, Listed, Redeemable, Transferable NCDs
• Mode of Issue: Private Placement
• Rating:
  • ICRA AAA with ‘Stable’ outlook
  • CRISIL AAA with ‘Stable’ outlook
• Issue Size: INR 1,250 Million (INR 1,000 Crores) with an option to retain oversubscription of additional 7,500 NCDs
• Subscription and Allotment Size: 12,500 NCDs
• Coupon Rate: 8.20% per annum
• Default Interest Rate: 2.00% per annum
• Tenor: 5 years from the Deemed Date of Allotment
• Coupon Payment Frequency: Annual and at maturity
• Deemed Date of Allotment: July 16, 2024
• Redemption Date: July 16, 2029
• Redemption Price per NCD: INR 1,00,000
• Issue Price per NCD: INR 1,00,000
• Face Value per NCD: INR 1,00,000
• Security: First ranking exclusive charge by way of hypothecation over the receivables for security cover of 1 (One) time over principal and accrued interest

Official Statement: Ganesh Chandrasekaran, Company Secretary & Compliance Officer of Toyota Financial Services India Limited, signed the official communication. The company emphasized its commitment to providing secure investment options and maintaining high standards of financial integrity.