By Tali Rackner
Norfolk, Va., Aug. 11 – Ashiana Housing Ltd. informed the Bombay Stock Exchange that its board of directors allotted Rs. 300 million of secured non-convertible debentures in four tranches.
The first tranche is for Rs. 100 million with an 11.45% coupon and a tenor of four years. The second tranche is for Rs. 70 million with an 11.45% coupon and a tenor of four years. The third tranche is for Rs. 50 million with an 11% coupon and a tenor of three years. The fourth tranche is for Rs. 80 million with an 11% coupon and a tenor of two years.
The 3,000 rated and listed debentures, with a face value of Rs. 1 million each, will be issued on a private placement basis.
The debt will be listed on the BSE Ltd.
Ashiana is a New Delhi-based real estate development company.
| Issuer: | Ashiana Housing Ltd.
|
| Issue: | Secured non-convertible debentures
|
| Amount: | Rs. 300 million
|
| Allotment date: | July 13 and July 30
|
|
|
| Tranche 1
|
| Amount: | Rs. 100 million
|
| Coupon: | 11.45%, payable annually
|
| Tenor: | Four years
|
|
|
| Tranche 2
|
| Amount: | Rs. 70 million
|
| Coupon: | 11.45%, payable annually
|
| Tenor: | Four years
|
|
|
| Tranche 3
|
| Amount: | Rs. 50 million
|
| Coupon: | 11%, payable monthly
|
| Tenor: | Three years
|
|
|
| Tranche 4
|
| Amount: | Rs. 80 million
|
| Coupon: | 11%, payable monthly
|
| Tenor: | Two years
|
|
|
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