India, June 8 -- Recently listed NBFC Aye Finance's WALCO (working committee of asset and liabilities committee of board of directors) has approved the offer and issuance of "senior, secured, rated, listed, redeemable, transferable, non-convertible debentures" of up to INR equivalent of $15 Mn.

According to the exchange filing, Aye Finance will issue the NCDs on a private placement basis, with a face value fixed at Rs.1 Lakh per debenture. The securities will be allotted on June 25, with a maturity tenure of five years, and will be listed on the BSE's Wholesale Debt Market Segment.

The coupon rate will be determined based on currency or interest hedging agreements structured with investors.

"The interest on the debentures shall be paya...