Tata Capital Ltd Allots Non-Convertible Debentures Worth Rs. 343 Crore

Tata Capital Limited has allotted Non-Convertible Debentures (NCDs) on private placement basis amounting to Rs. 343 crore. The NCDs, which are secured, redeemable, and non-convertible, have been issued in two series - TCL SECURED A FY 2023-24 VIS-M-Reissue No.2 and TCL SECURED A FY 2023-24 VIS-M-Reissue No.3. The issue size for the former is Rs. 235 crore at a coupon rate of 7.66% XIRR and for the latter is Rs. 108 crore at a coupon rate of 7.6596% XIRR. The tenor for both series is 2898 days from the deemed date of allotment, with the maturity date set for February 08, 2034. The debentures are secured by a pari-passu charge on the Company’s moveable property, including receivables and book debts arising out of secured/unsecured loans given by the Company, investments. The NCDs are proposed to be listed on the National Stock Exchange of India Limited (NSE) and have been rated AAA/Stable by CRISIL Ratings Limited and ICRA Limited.