Tue 06/13/2023 08:29 AM
Ascend Telecom Infrastructure Pvt. Ltd. raised INR 13.36 billion ($161.9 million) on June 12 from US-based private equity firm Global Infrastructure Partners, or GIP, through a private placement, according to two sources familiar with the matter.
The new money was structured as a five-year unsecured, rated, non-convertible debentures, or NCDs and the proceeds will be used to partly fund the acquisition of Tower Vision India Pvt. Ltd., the sources said. The 11.35% coupon on the 2028 NCDs...
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