NLC India to raise Rs 525 crore

Through private placement of bonds

Jan 24, 2020 10:01 IST capital market

NLC India has decided to raise Rs. 525 crore through private placement of Secured, Non-Cumulative, Non-Convertible, Redeemable, Taxable Bonds (Series I of 2020) in the nature of Debentures at a coupon of 7.36% p.a. with a door to door maturity of 10 years, as per the bidding process held on 23 January 2020.

The proceeds of the proposed issue will be utilized to replace the equity deployed in the projects and operation over the normative level by the debt, and for the purpose of corporate requirements of regular business activities.

The bonds are proposed to be listed on both NSE & BSE.

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