 "Mutual funds (MFs) are gearing up with offerings centered on the ‘quality' theme, as this investment approach is expected to rebound following three years of underperformance compared to the ‘value' theme.")
BPEA Credit, one of Asia's leading private credit platforms, has rebranded itself as Ascertis Credit.
The firm has raised four funds and invested over $1 billion in performing credit, primarily focusing on India and Southeast Asia. It manages capital for global pension funds and developmental financial institutions.
"Performing credit in the high-growth economies of India and Southeast Asia provides tremendous diversification benefits to investors, coupled with attractive returns and strong liquidity, well-insulated from market volatility and the risks of high valuations," said Kanchan Jain, head, Ascertis Credit. "It also addresses the need for longer-term stable capital required for inclusive growth of the large economies in the region, enhancing regional wealth."
Ascertis recently launched the Select Short Term Income Fund-I, targeting Rs 750 crore, and is expected to announce its final close soon. The firm plans to raise its fifth fund following the successful deployment of its current fund. Fund III, which closed in June 2022 at $600 million, is one of the largest single-country performing credit funds raised in Asia.
Bajaj Housing Finance raises Rs 1,500 crore through NCD issue
Recently listed Bajaj Housing Finance raised Rs 1,500 crore on Thursday through the private placement of floating-rate secured non-convertible debentures (NCDs), according to sources. The coupon rate will be reset quarterly based on benchmark determinations.
The initial or first coupon will be set as the simple average of the three-month treasury bill rate for ten working days from September 23 to October 2024, i.e. 6.48 per cent per annum, plus a spread of 155 basis points per annum to arrive at a net coupon rate of 8.03 per cent.
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The issue size was Rs 1,000 crore with a green shoe option of Rs 500 crore. Proceeds from the issuance will be utilised for the deployment of funds on the company’s balance sheet.
Bajaj Housing Finance got listed on the bourses last month. Shares of the mortgage lender closed 0.39 per cent higher on Wednesday on BSE.
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