Credit rating agency, India Ratings & Research has assigned Ballarpur Industries’ Rs 150 crore non-convertible debenture (NCD) programme a final rating of ‘A+’. The debentures are secured, redeemable and non-convertible in nature. The NCDs have a coupon of 11.75% p.a. and a tenor of 10 years.
The company is engaged in manufacturing of wide range of papers such as coated wood free, uncoated wood free, copy paper, packaging, business stationery, industrial grades and speciality and fine paper.