Tata Power Company’s wholly-owned step down subsidiary - Welspun Renewables Energy (WREPL), has successfully issued and allotted Guaranteed, Redeemable, Rated, Taxable, Non-cumulative, Non-Convertible Debentures of face value of Rs 10 lakh each, aggregating to Rs 1,200 crore on a private placement basis.
The NCDs have been rated AA(SO) by CARE. The NCDs will carry a coupon of 8% per annum payable monthly. The proceeds from the NCDs will be primarily used to prepay existing higher cost debt in WREPL and its subsidiaries.
Tata Power is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.
