Allotment of Non-Convertible Debentures worth INR 1,020 crores
EMBDL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Embassy Developments allotted 1,02,000 senior secured unlisted NCDs at face value of INR 1 lakh each, totaling INR 1,020 crores via private placement at an 11% annual coupon payable quarterly. This is part of an approved issue size of up to INR 1,570 crores. About INR 920 crores will be used to repay or refinance existing debt, with the balance for project construction, working capital and general corporate purposes. Debentures mature by September-December 2029.
Primarily debt refinancing; adds INR 1,020 cr of secured borrowings but eases near-term repayment pressure. No equity dilution since NCDs are unlisted and unrated.