Himatsingka Seide allots Rs 12.75 crore NCDs at 11.50 percent coupon
HIMATSEIDE · price
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Himatsingka Seide allotted 255 Tranche 2 Series E unlisted secured NCDs with face value of Rs 5 lakh each, aggregating Rs 12.75 crore, via private placement at par. Coupon rate is 11.50 percent yearly, payable quarterly. Tenure is 42 months, maturing January 28, 2030. Principal to be repaid in three instalments at 30, 36 and 42 months. Secured by first pari passu charge on fixed assets at Hassan and Doddaballapur plants. The NCDs are unrated and will not be listed.
Raises Rs 12.75 crore debt; no equity dilution as NCDs are non-convertible, but adds a yearly interest obligation of about 11.50 percent.