| Issuer |
ECL Finance Limited ( View Report ) |
| Issue |
Public Issue of secured, redeemable non‐convertible debentures of face value of Rs.1000 each, for an amount of Rs. 2,500 million (“Base Issue Size”) with an option to retain oversubscription upto Rs.7,500 million aggregatting upto Rs. 10,000,000 NCD amounting to Rs. 10,000 million ("Tranche Issue Limit") ("Tranche Issue") which is within the self limit of Rs. 20,000 million.
|
| Rating |
“CRISIL AA/Stable” and “[ICRA]AA" by ICRA` |
| Issue opens |
December 13, 2018
|
| Issue closes |
January 11, 2019 |
| Issue Price |
Rs. 1,000 per NCD |
| Minimum Application |
Rs 10,000/- (10 NCDs) across all Series and in multiples of 1 (one) NCD of Rs 1,000/- each thereafter |
| Coupon Type |
Fixed Coupon Rates |
| Listing |
NCDs are proposed to be listed on BSE & NSE. |
SPECIFIC TERMS FOR EACH SERIES OF NCDs
| T&C in connection with Secured NCDs***Options |
I |
II |
III |
IV |
V |
VI |
VII |
| Frequency of Interest Payment |
Annual |
Cumulative |
Monthly |
Annual |
Cumulative |
Monthly |
Annual |
| Minimum Application |
Rs 10,000/- (10 NCDs) across all Series and in multiples of 1 (one) NCD thereafter |
| Issue Price (Rs/ NCD) |
Rs 1,000 |
| Face Value / Issue Price (Rs / NCD) |
Rs 1,000 |
| Tenor from Deemed Date of Allotment |
39 months |
39 months |
60 months
|
60 months
|
60 months
|
120 months
|
120 months
|
| Coupon (% per annum) for NCD Holders in Category I,II, III & Category IV |
10.20% |
NA |
9.95% |
10.40% |
NA |
10.15% |
10.60% |
|
Effective Yield (per annum) for NCD Holders in Category I,II, III and Category IV
|
10.20% |
10.20% |
10.42% |
10.40% |
10.40% |
10.64% |
10.60% |
|
Redemption amount (Rs per NCD)
|
1000 |
1371.08 |
1000 |
1000 |
1640.45 |
1000 |
1000 |
|
Maturity/Redemption Date (Months from the Deemed Date of Allotment)
|
39 months |
39 months |
60 months |
60 months |
60 months |
120 months |
120 months |
|
Put and call option
|
N.A. |
|
Mode of Interest Payment
|
Through various options available |
* Benchmark MIBOR (defined below) as Reference Overnight MIBOR published by FBIL computed on an annulised basis. Subject to reset annually based on Overnight MIBOR benchmark rates.
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