InvestorQ : What is the purpose of Tata Steel raising Rs.400 crore via debt route?
Crowny Pinto made post

What is the purpose of Tata Steel raising Rs.400 crore via debt route?

Answer
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4 months ago


Tata Steel has secured board approval to raise Rs.400 crore via debt issue. This will entail private placement of 4,000 non-convertible debentures (NCD) with face value of Rs.10 lakh each to a set of pre-identified investors. The NCDs will pay coupon of 8.08% and will be unsecured and will carry a floating rate coupon pegged to a benchmark. In addition, the NCDs will be rated and listed on the Wholesale Debt Market (WDM) Segment of BSE.