New Issue: India’s Piramal issues Rs. 800 million of debentures due 2018, 2019

By Wendy Van Sickle

Columbus, Ohio, Aug. 25 – Piramal Enterprises Ltd.’s board of directors approved on Thursday issuing Rs. 800 million of nonconvertible debentures by private placement, according to a Bombay Stock Exchange notice.

The company allotted Rs. 500 million of 8.95% debentures with a June 6, 2018 maturity date and Rs. 300 million of 9.267% debentures with an April 25, 2019 maturity date.

Piramal Enterprises, formerly Piramal Healthcare Ltd., is a Mumbai-based subsidiary of the Piramal Group.

Issuer:	Piramal Enterprises Ltd.
Issue:	Secured redeemable debentures
Amount:	Rs. 800 million
Maturity:	June 6, 2018 for Rs. 500 million, April 25, 2019 for Rs. 300 million
Coupon:	8.95% for Rs. 500 million, 9.267% for Rs. 300 million
Allotment date:	Aug. 25

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