THDCIL Corporate Bond Series X oversubscribed 8 times

Rishikesh: THDC India Limited a prominent entity in the energy sector, has achieved a significant milestone by successfully raising Rs 750 crore through the issuance of THDCIL Corporate Bonds Series- X. R K Vishnoi, Chairman and Managing Director, THDCIL while expressing satisfaction over overwhelming response from the investors informed that the issue comprises of a base size of Rs 250 crore and a green shoe option of Rs 500 crore, i.e. total issue size of Rs 750 crore, with a tenor of 10 years. The funds raised through the issue will be utilised to partly meet debt requirements of THDCIL’s ongoing and under-construction projects including recoupment of expenditure already incurred and to refinance the existing loans. He further mentioned that the bonds issue attracted considerable investor interest, leading to a noteworthy oversubscription of approximately 8 times the base issue size, amounting to Rs 2072.42 crore.

He added that this accomplishment underscores the confidence of investors in THDCIL’s financial stability and operational performance. The competitive coupon rate of 7.76 per cent p.a. discovered through BSE–Electronic Bidding Platform, further reinforces the trust placed in THDCIL Corporate Bonds.

Additionally, these bonds have received a credit rating of “AA outlook Positive” from India Ratings and “AA outlook Stable” from CARE, emphasizing the company’s robust creditworthiness.

The bidding for this successful bond issue took place on May 27, 2024 at THDCIL’s Corporate Office in Rishikesh. The assignment was coordinated by A K Garg, CFO, Rashmi Sharma, Company Secretary, THDCIL and Hemlata Agarwal, BSE Head Northern Region, Fixed

Income.