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Tata Steel board approves raising of INR 9000 crores via debt securities

Steel News - Published on Fri, 21 Apr 2017

Image Source: Business Today
PTI reported that Tata Steel board has given its approval for issuing debt securities worth up to INR 9,000 crore to meet working capital requirements and general corporate purposes. It said in a BSE filing "The Board of Directors, based on the review and pursuant to the existing shareholders approval, approved issue of debt securities of up to INR 9,000 crore in the form either of Non-Convertible Debentures on private placement basis or Foreign Currency or Rupee Denominated Bonds or a combination thereof in one or more tranches.”

The funds will primarily be deployed towards re-financing the existing debt, capex and working capital requirements and general corporate purposes.

Source :

Posted By : Rabi Wangkhem on Fri, 21 Apr 2017
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