UltraTech Cement Limited on Tuesday has approved allotment of USD denominated notes aggregating to Rs2900cr.
“The Finance Committee of the Board of Directors at its meeting held today, approved allotment of unconditional, unsubordinated and unsecured USD denominated notes (in the form of “Sustainability Linked Bonds”), aggregating to USD 400 million, corresponding to approximately ~Rs2,900cr, due February 16, 2031 @ 2.80% per annum, payable semi-annually on August 16 and February 16 of each year, commencing from August 16, 2021 as per applicable laws,” company said in a regulatory filing on Tuesday.
The Notes will be listed on the Singapore Exchange Securities Trading Limited. The company further informed that there is no plan to raise funds by way of equity issuance.
At around 10.04 am, UltraTech Cement Ltd was trading at Rs6,469.40 per piece up by Rs11.7 or 0.18% on the BSE.