Intimation for allotment of Non-convertible Debentures.
LLOYDSME · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Lloyds Metals and Energy Limited has allotted 75,000 Non-Convertible Debentures (NCDs) with a face value of INR 1 lakh each, raising INR 750 crore through private placement. The debentures carry an 8% per annum coupon payable half-yearly over a 6-year tenor, maturing on 7 May 2032. The issue was fully subscribed through the NSE Electronic Book Provider platform. The NCDs are unsecured but carry strong credit ratings of IND AA/Stable (India Ratings) and Crisil AA/Stable. The debentures will be listed on NSE.
The company has successfully raised INR 750 crore through debt, indicating investor confidence in the firm's creditworthiness given the AA ratings. The unsecured NCDs at 8% rate reflect a reasonable borrowing cost for a well-rated industrial company.