Lloyds Metals allots Rs 700 crore NCDs at 9.02 percent, 10 year tenor
LLOYDSME · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.9 pts less than Nifty Midcap 150 and 3.7 pts less than its Industrial Minerals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Lloyds Metals has allotted 70,000 secured, listed, rated, redeemable Non-Convertible Debentures of Rs 1 lakh each, raising Rs 700 crore via private placement. Coupon is 9.02 percent per annum, payable annually, with 10 year maturity on 6 August 2036. Principal is redeemed in the last four years. Rated AA/Stable by India Ratings and Crisil. Secured by movable plant and machinery at Hedri Grinding Unit, DRI Konsari, and Power Plant Konsari, with 1.25x security cover. Listed on NSE.
Company raises Rs 700 crore through debt with no equity dilution. Higher interest cost of 9.02 percent; secured against core plant assets.