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Tata Power said it has issued two series of non-convertible debentures worth ₹1,500 crore on private placement basis.
The Series 1 NCDs aggregating ₹1,000 crore to be repaid in 2017, carry a coupon rate of 9.32 per cent, while the Series 2 NCDs aggregating ₹500 crore to be repaid in 2019, carry a coupon rate of 9.48 per cent. Both versions are unsecured, non-cumulative and redeemable.
The NCDs will be listed on the wholesale debt market segment of NSE.
Tata Power said the proceeds would be used for general corporate purposes of the company, including repayment of maturing foreign currency convertible bonds, capital expenditure and meeting working capital needs as permitted by the RBI for bank finance.
The joint lead arrangers of the NCDs are Standard Chartered Bank, IDFC, YES Bank, Axis Bank and Deutsche Bank.
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