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Welspun Corp successfully concludes placement of NCD worth Rs 200 crore

27 Aug 2012 Evaluate

Welspun Corp (WCL), the second largest (large diameter) pipe company in the world, and the flagship company of the $3.5 billion Welspun Group has successfully concluded the placement of Rs 200 crore secured redeemable non convertible debentures (NCD’s). The NCD’s was placed amongst marquee investors including banks and financial institutions.

The company has raised Rs 200 crore by way of NCD’s with tenure of 5 year / 7 years. The NCD’s were raised (excluding issue expense) at a coupon of 11.15% per annum with maturity at the end of the 7th year and put/call option at the end of 5 years and at 11.25% per annum with maturity at the end of 7th year without any put/call option.

Besides, the issue was dual rated at ‘AA (-)’ thus affirming that the instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations.

Welspun Corp Share Price

1077.35 0.20 (0.02%)
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