Tata Power Renewable Energy raises Rs 5 billion via NCDs

Tata Power Renewable Energy Limited (TPREL) has issued and allotted guaranteed, unsecured, non-cumulative, redeemable, taxable, listed, rated non-convertible debentures (NCDs) worth Rs 5 billion on private placement basis. The NCDs will carry a coupon rate of 8.45 per cent payable annually and guaranteed by TPREL. The proceeds of the issue will be used for fresh capital expenditure as well as for refinancing short-term liabilities contracted for financing various renewable energy projects being developed by the company.