By Sarah Lizee
Olympia, Wash., Nov. 21 – Piramal Enterprises Ltd. notified the Bombay Stock Exchange that the administrative committee of its board of directors approved a private placement of Rs. 5 billion of 0% secured nonconvertible debentures in two series.
The Rs. 1 billion of series 1 debentures will have a tenor of 12 months.
The Rs. 4 billion of series 2 debentures will have a greenshoe of Rs. 5 billion and will have a tenor of 24 months.
Piramal Enterprises, formerly Piramal Healthcare Ltd., is a Mumbai-based subsidiary of the Piramal Group.
| Issuer: | Piramal Enterprises Ltd.
|
| Issue: | Secured nonconvertible debentures
|
| Announcement date: | Nov. 21
|
| Distribution: | Private placement
|
|
|
| Series 1 debentures
|
| Amount: | Rs. 1 billion
|
| Coupon: | 0%
|
| Tenor: | 12 months
|
|
|
| Series 2 debentures
|
| Amount: | Rs. 4 billion
|
| Greenshoe: | Rs. 5 billion
|
| Coupon: | 0%
|
| Tenor: | 24 months
|
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