Rashtriya Chemicals and Fertilizers Limited has informed the Exchange regarding 'the Debenture AllotmentCommittee of the Company in its meeting held today, approved and allotted 30,000 7.49% Listed, Unsecured, Redeemable, Non-Cumulative, Taxable, Non-Convertible Bonds in the nature of Debentures (NCDs) of face value of Rs.1,00,000/-(Rupees One Lakh only) each, aggregating to Rs.300 crore (Rupees Three Hundred Crore only) on private placement basis '.
RCF · price
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Rashtriya Chemicals and Fertilizers (RCF) has raised Rs. 300 crore by allotting 30,000 unsecured, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis, with a face value of Rs. 1,00,000 each. The NCDs carry a coupon of 7.49% per annum, paid annually, and have a 3-year tenure maturing on June 30, 2028. The base issue size was Rs. 200 crore, and the company fully utilised its green shoe option to retain an oversubscription of Rs. 100 crore. The NCDs will be listed on the WDM segment of BSE and NSE. Allotment was made to five investors: ICICI Bank, Canara Bank, PNB Gilts, Reliance General Insurance, and Catholic Syrian Bank.
RCF has secured Rs. 300 crore of debt funding at 7.49% with no equity dilution for shareholders. The fundraise modestly increases the company's debt load and adds an annual interest outflow of about Rs. 22.5 crore over the next three years.