Torrent Power issues NCDs worth Rs 3,800 crore

Torrent Power on Wednesday announced raising Rs 3,800 crore through the issuance of non-convertible debentures (NCDs). The company has issued secured, rated, listed, taxable, non-cumulative, redeemable and non-convertible debentures on a private placement basis, Torrent Power said in an exchange filing. Torrent Power said it has issued and allotted “Series 15 — 3,80,000 secured, rated, listed, taxable, non-cumulative, redeemable and non-convertible debentures of Rs 3,800 crore” in four tranches. The NCDs will be issued at a coupon rate of 8.10-8.20 per cent per annum, the company said.

The company has proposed to list the NCDs on the Wholesale Debt Market Segment of the NSE.