SPML Infra Limited has implemented the Scheme for Sustainable Structuring of Stressed Assets for converting Rs 5.46 billion of its Rs 11.17 billion debt into optionally convertible debentures (OCDs). The OCDs have a tenor of 10 years till 2027, and carry a coupon rate of 0.01 per cent and yield to maturity of 8.15 per cent. In the first five years, a coupon rate of only 0.01 per cent will be paid. Payment of the effective yield to maturity for the next five years will be from the sixth year till the tenth year. The payment of OCDs will be in 20 quarterly instalments from the quarter ending December 2022 to the quarter ending September 2027.