By Sarah Lizee
Olympia, Wash., April 15 – Tata Communications Ltd. informed the Bombay Stock Exchange said its board of directors approved on Wednesday Rs. 5 billion of 7.48% three-year secured redeemable nonconvertible debentures, according to a notice.
The debentures carry a Rs. 1.5 billion greenshoe and are being issued at par.
Axis Bank Ltd. is the arranger for the debentures, which are being issued via private placement.
Proceeds will be used to refinance existing debt and/or for general corporate purposes.
Tata Communications is part of Tata Group, a conglomerate based in Mumbai.
| Issuer: | Tata Communications Ltd.
|
| Issue: | Secured redeemable nonconvertible debentures
|
| Amount: | Rs. 5 billion
|
| Greenshoe: | Rs. 1.5 billion
|
| Maturity: | Three years
|
| Arranger: | Axis Bank Ltd.
|
| Coupon: | 7.48%
|
| Price: | Par
|
| Approval date: | April 15
|
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