Aegis Vopak to raise up to Rs 1,030 cr via NCDs on private placement
AEGISVOPAK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.9 pts less than Nifty Smallcap 250 and 1.4 pts less than its Oil peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Board approved issuing up to Rs 1,030 crore of secured, senior, rated, listed, redeemable NCDs via private placement. 1,03,000 NCDs of face value Rs 1 lakh each, carrying 7.20% annual coupon, 3 year tenure, bullet redemption. NCDs to be listed on NSE. First ranking charge on Kandla and Pipavav LPG terminal assets. Put and call options at 1 year 1 day and 24 months. First coupon reset at 1 year 1 day, then annually.
Raises debt funding for the company; secured by terminal assets, coupon of 7.20% signals reasonable borrowing cost. May slightly dilute equity metrics but supports growth plans.