Skip to main content

Deepak Fertilisers to raise up to US$60 million via bonds

Published by , Editorial Assistant
World Fertilizer,


Deepak Fertilisers and Petrochemicals Ltd has announced that its board has given in-principle approval to the company and its subsidiary for raising up to US$60 million through debt instruments.

In a regulatory filing, the company announced that the board has granted an in-principle approval for offering foreign currency convertible bonds (FCCBs) aggregating up to US$30 million in two tranches to International Finance Corporation (IFC) upon opening of the issue by the securities issue committee of directors.

The securities issue committee of directors has been authorised to determine the terms and conditions of issue of FCCBs (including the tenure, coupon rate and issue price) and to open the issue of the said FCCBs.

"The board has further granted an in-principle approval for issue of compulsory convertible debentures (CCDs) by Smartchem Technologies Ltd, a wholly owned subsidiary of the company, aggregating up to US$30 million in two tranches to IFC," the filing said.

Read the article online at: https://www.worldfertilizer.com/project-news/24042019/deepak-fertilisers-to-raise-up-to-us60-million-via-bonds/

You might also like

 EnviroTech

Ready to revolutionise the cement industry?

Join our sister publication, World Cement, in Lisbon, 10 – 13 March 2024, for their first in-person conference and exhibition: EnviroTech.

This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.

Get your early bird tickets NOW »

 
 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

India fertilizer news