Tata Communications Allots Non-Convertible Debentures Worth Rs 1,750 Cr

Tata Communications on Tuesday through an exchange file informed that the Financial Resource Raising Committee has today approved the allotment of 1,75,000 Rated, Unsecured, Listed, Redeemable Non-Convertible Debentures (NCDs) having face value of Rs 1,00,000 each, for cash, aggregating to Rs 1,750 crore, for a tenor of 3 years, to identified investors on private placement basis, on the terms and conditions as mentioned in the transaction documents for the issuance.

The NCDs have a fixed rate coupon of 7.75 percent and have been issued on the basis of multiple yield allotment method.

The NCDs will be listed on the Wholesale Debt Market Segment of the National Stock Exchange of India Limited.

Tata Communications shares

The shares of Tata Communications on Tuesday at 3:30pm IST were at Rs 1,792.50, down by 0.29 percent.