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Tata Power said it has issued two series of NCDs (Non-Convertible Debentures) worth Rs 1,500 crore on a private placement basis.
The Series 1 NCDs aggregating Rs 1,000 crore to be repaid in 2017, carry a coupon rate of 9.32 per cent are unsecured, non-cumulative and redeemable.
The Series 2 NCDs aggregating Rs 500 crore to be repaid in 2019, carry a coupon rate of 9.48 per cent are also 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 working capital as permitted by the Reserve Bank of India for bank finance.
The joint lead arrangers of the NCDs are Standard Chartered Bank, IDFC Limited, Yes Bank Limited, Axis Bank and Deutsche Bank.
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