HPCL raises Rs 20 billion debt

Hindustan Petroleum Corporation Limited (HPCL) has raised Rs 20 billion in debt for funding its capital expenditure during the current year. HPCL has issued unsecured, redeemable, non-convertible, non-cumulative, taxable, debentures of Rs 1 million each aggregating Rs 20 billion on a private placement basis for funding its capital expenditure, including recouping expenditure already incurred. The coupon rate will be 4.79 per cent per annum for the debt instruments which will mature on October 23, 2023.