Source - RNS
RNS Number : 2352L
Tata Steel Limited
29 September 2016
 

                                                                                                                    September 29, 2016

 

London Stock Exchange

London


 

Dear Sirs/Madam,

 

Re: Outcome of the Meeting - Issue of Unsecured, Redeemable, Listed, Rated

Non-Convertible Debentures aggregating Rs. 1,000 crore

 

The Committee of Directors (constituted by the Board), at the meeting held today                   i.e. September 29, 2016 between 4.00 p.m. and 6.00 p.m. approved issue of debt securities as per the terms mentioned below:

 

Terms of issue:

 

Type of securities proposed to be issued

Unsecured, Redeemable, Rated, Listed,  Non-Convertible Debentures (NCDs)

Type of Issuance

Private Placement to all eligible investors

Total numbers of securities to be issued

10,000 NCDs

Face Value

Rs.10,00,000 each

Size of the Issue

Rs.1,000 crore

Listing of securities

Wholesale Debt Market Segment of

BSE Limited

Tenure

10 years

Date of allotment

To be decided

Date of maturity

10 years from the deemed date of allotment

Coupon/Interest and schedule of payment

Fixed rate NCDs with annual coupon payment.

Redemption of debentures

Bullet



 

Charge/Security, if any, created over the assets

Nil. The NCDs are unsecured.

Rating

AA+ (Double A Plus) by Credit Analysis & Research Limited (CARE) and

Brickwork Rating India Private Limited

 

i. Special rights/interest/privileges attached to the instrument and changes thereof - None

 

ii. Delay in payment of Interest/principal amount for a period of more than 3 months from the due date or default in payment or interest/principal - Not applicable

 

iii. Details of any letter or comments regarding payment/non-payment of interest, principal on due dates, or any matter concerning the security and/or the assets along with comments thereon -  None

 

The above disclosures are made in terms of Regulation 30 of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

 

Submitted for your information and record.

 

 

 


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