By Tali Rackner
Norfolk, Va., June 29– Piramal Enterprises Ltd. informed the Bombay Stock Exchange that its board of directors approved the allotment of Rs. 1.05 billion of secured redeemable nonconvertible debentures.
The 1,050 debentures will be issued at a face value of Rs. 1 million each in two series: Series I has a tenor of 561 days and a coupon of 9.383%; and series II has a tenor of 1,093 days and a coupon of 9.57%.
The notes will be listed on the wholesale debt segment of the National Stock Exchange of India Ltd.
Piramal Enterprises, formerly Piramal Healthcare Ltd., is a Mumbai-based subsidiary of the Piramal Group.
| Issuer: | Piramal Enterprises Ltd.
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| Amount: | Rs. 1.05 billion
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| Issue: | Secured redeemable nonconvertible debentures
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| Maturity: | Series I: 561 days; series II: 1,093 days
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| Coupon: | Series I: 9.383%; series II: 9.57%
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| Pricing date: | June 23
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