Hindalco Industries Ltd has informed BSE that the Company on June 27, 2012 has completed issuance of Secured Redeemable Non-convertible Debentures amounting to Rs. 1,500 Crores on Private Placement basis @ the coupon of 9.55% PA. The Committee of Directors in their meeting held on June 27, 2012, approved the allotment of 15,000 Secured Redeemable Non-convertible Debentures on Private Placement basis, having the face value of Rs. 10,00,000/- each to the eligible Investors, in accordance with SEBI (Issue and Listing of Debt Securities) Regulations, 2008, and other relevant laws.
The proceeds will be used, for general, business purposes including capital expenditure, working capital, refinancing of existing debt.
The aforesaid Debentures are proposed to be listed on WDM of National Stock Exchange of India Limited.