Home Uttarakhand THDCIL issues Bond of Rs 1500 Cr

THDCIL issues Bond of Rs 1500 Cr

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By OUR STAFF REPORTER

RISHIKESH, 5 Sep: THDC India Limited (THDCIL) has issued corporate bonds series- II of Rs 1500 Cr with base issue size of Rs 500 Cr and green shoe option of Rs 1000 Cr. The bidding for the above issue was done today at THDCIL’s Lodhi Road Office in the presence of J Behera, Director, Finance, and Rashmi Sharma, Company Secretary. The coupon rate discovered is 8.75 % for Rs 1500 Cr through BSE EBP Platform with Credit rating of AA+ and AA Stable. The bidding was a grand success with over subscription of more than 6 times of base issue size. The company received bids for Rs 3215 Cr from various investors and arrangers, against issue size of Rs 1500 Cr. These corporate bonds have tenor of 10 years and the bond proceeds shall be used to partly meet debt requirement of ongoing projects under construction including recoupement of expenditure already incurred and to refinance the existing loans the issue was led by DF and Company Secretary and it was grand success. DV Singh, CMD-THDCIL, expressed his satisfaction that THDCIL received excellent response from the various investor classes in time slot of one and a half hour and issue was oversubscribed. He also said that this showed the confidence of the Investors in the Company‚Äôs Performance and growth Prospects. THDCIL is one of the premier power generators in the country with installed capacity of 1513 MW with commissioning of Tehri Dam & HPP (1000MW), Koteshwar HEP (400MW) and 50MW Wind Power Project at Patan Gujarat to its credit. It is to mention that THDCIL is implementing 1320MW Khurja Super Thermal Power Project in UP. The foundation stone of the project was laid by PM Narendra Modi.