Rattanindia Power converts debt facility to NCDs at favourable interest rate

Rattanindia Power converts debt facility to NCDs at favourable interest rate

Jan 09, 2021 03:01 IST capital market

Rattanindia Power has issued and allotted 1,96,500 non-convertible debentures of face value of Rs 1 lakh each at issue price of Rs 1 lakh each to Aditya Birla ARC on conversion of an outstanding debt facility.

Importantly, the NCDs carry an interest rate per annum, which is less by 1.25 %, in comparison to the rate of interest which was applicable to the erstwhile debt facility, thereby meaning savings in financing cost for the Company.

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