Loan & Debt21 May 2026, 03:43 pm
Tata Capital Allots ₹2,950 Cr Secured NCDs
AI Summary
Tata Capital Limited has allotted Secured Redeemable Non-Convertible Debentures (NCDs) worth ₹2,950 crore on a private placement basis. The NCDs, named "TCL Secured NCD 'B' FY 2026-27-VIS-M SERIES 'B' FY 2026-27", have a floating coupon rate benchmarked to the 3M T-Bill Rate plus a fixed spread of 210 bps p.a. The initial coupon rate is set at 7.42% p.a. and will reset quarterly. The NCDs mature on February 21, 2029, and are secured by a pari-passu charge on the company's moveable property.
Key Highlights
- Tata Capital allots secured NCDs worth ₹2,950 crore via private placement.
- NCDs have a floating coupon rate linked to 3M T-Bill Rate plus 210 bps spread.
- Initial coupon rate is 7.42% p.a., resetting quarterly.
- NCDs mature on February 21, 2029, with bullet payment redemption.
- The NCDs are rated CRISIL AAA/Stable and [ICRA] AAA/Stable.
Price Impact
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