India’s Sakthi Finance board OKs up to Rs. 1 billion of debentures

By Sarah Lizee

Olympia, Wash., Dec. 13 – Sakthi Finance Ltd. informed the Bombay Stock Exchange said its board of directors met on Friday and approved an issue of up to Rs. 1 billion of redeemable nonconvertible debentures.

The debentures would carry a greenshoe of up to Rs. 1 billion.

The coupon will not exceed 12%.

The term of the debentures will be determined by an issuance committee.

Sakthi Finance is a nonbanking finance company based in Tamil Nadu, India.

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