By Susanna Moon
Chicago, July 22 – Piramal Enterprises Ltd. notified the Bombay Stock Exchange that it will issue Rs. 150 million of secured redeemable bonds in the first tranche of a planned bond issue.
In this tranche, the company will sell 9.57% bonds due in 1,826 days and 9¾% bonds due in 3,650 days, according to the notice.
The company plans to issue up to Rs. 10 billion of secured redeemable debentures in multiple tranches.
The company will issue up to 10,000 debentures at par of Rs. 1 million each, and the notes will be listed on 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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| Issue: | Secured redeemable debentures
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| Amount: | Rs. 150 million
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| Maturity: | July 2021, July 2026
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| Coupon: | 9.57%, 9¾%
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