Oriana Power approves issuance and allotment of NCDs worth Rs 750 million

Reportedly, Oriana Power Limited’s board of directors has approved the issuance and allotment of NCDs worth Rs 750 million. The company will issue 7,500 debentures under the offering, each with a face value of Rs 100,000. The debentures will be issued on a private placement basis to select investors and will be unlisted. The instruments are rated, senior, secured, redeemable and transferable in nature, with a fixed coupon rate of 11.65 per cent per annum. Interest payments will be made on a monthly basis. The NCDs will have a tenor of up to 48 months from the deemed date of allotment, with the maturity date to be finalised based on the actual allotment and confirmed tenor.