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Tata Power’s arm raises Rs 500 crore on private placement basis

Tata Power’s wholly-owned subsidiary – Tata Power Renewable Energy (TPREL) has successfully issued and allotted Guaranteed, Unsecured, Non-Cumulative, Redeemable, Taxable, Listed, Rated, Non-Convertible Debentures (NCDs) for an amount of Rs 500 crore on private placement basis.

The NCDs have been rated AA (SO) by CARE. The NCDs will carry a Coupon rate of 8.45% by IDFC Bank payable annually and are guaranteed by the company. The proceeds of the Instrument will be used for fresh capital expenditure / refinancing of short term liabilities contracted for financing the capital expenditure of various renewable energy projects being developed by the TPREL.

Tata Power is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.

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