Mon 04/08/2024 03:25 AM
The India Cements Ltd. a Chennai-based listed cement manufacturer, has mandated Nomura and Bank of America as lead arrangers to privately place around INR 7.5 billion ($90.1 million), 45-month puttable secured non-convertible debentures, or NCDs, a source close to and a source familiar with the development said.
The NCDs are likely to pay a coupon of around 17.5% and are to have an exclusive charge on the company's Banswara plant in Rajasthan, the sources said. The NCDs will also be...
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