By Marisa Wong
Morgantown, W.Va., Feb. 15 – Future Consumer Ltd. allotted Rs. 1.5 billion of senior secured non-convertible debentures to CDC Emerging Markets Ltd. on a private placement basis on Thursday, according to a Bombay Stock Exchange notice.
The seven-year debentures were sold at par.
The interest rate will be calculated from time to time based on the company’s long-term credit rating. The coupon is capped at 11.07%.
After three years, the company will repay the principal in 17 quarterly installments of 5.8824% each.
Future Consumer is a sourcing-to-supermarket food company based in Mumbai.
| Issuer: | Future Consumer Ltd.
|
| Issue: | Senior secured non-convertible debentures
|
| Amount: | Rs. 1.5 billion
|
| Maturity: | Seven years
|
| Price: | Par
|
| Coupon: | Floating, based on the company’s long-term credit rating, capped at 11.07%
|
| Redemption: | 17 quarterly installments of 5.8824% each, beginning at the end of 36 months
|
| Purchaser: | CDC Emerging Markets Ltd.
|
| Allotment date: | Feb. 15
|
| Distribution: | Private placement
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
