By Tali Rackner
Norfolk, Va., June 24 – Crompton Greaves Consumer Electricals Ltd. informed the Bombay Stock Exchange that its debenture committee approved the allotment of Rs. 6.5 billion of secured, listed, rated nonconvertible debentures via private placement on Friday.
The committee approved Rs. 3 billion of 8.95% series A debentures due 2019, Rs. 1.7 billion of series B debentures due 2020 and Rs. 1.8 billion of series C debentures due 2021. Each has a face value of Rs. 1 million each.
The debt will be listed on the National Stock Exchange of India Ltd.
Crompton is a Mumbai-based manufacturer and manufacturer of consumer products.
| Issuer: | Crompton Greaves Consumer Electricals Ltd.
|
| Total amount: | Rs. 6.5 billion
|
| Issue: | Secured, listed, rated nonconvertible debentures
|
| Allotment date: | June 24
|
|
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| Series A debentures
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| Amount: | Rs. 3 billion
|
| Maturity: | 2019
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| Coupon: | 8.95%
|
|
|
| Series B debentures
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| Amount: | Rs. 1.7 billion
|
| Maturity: | 2020
|
|
|
| Series C debentures
|
| Amount: | Rs. 1.8 billion
|
| Maturity: | 2021
|
|
|
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