OREANDA-NEWS. Tata Power, India's largest integrated power company, today announced that it has issued two series of Non-Convertible Debentures (NCDs) worth Rs. 1500 crore on a private placement basis. The 9.32% unsecured, non-cumulative, redeemable, listed, and rated Series 1 NCDs aggregating Rs. 1,000 crore will repaid in 2017. The 9.48% unsecured, non-cumulative, redeemable, listed, and rated Series 2 NCDs aggregating Rs. 500 crore will be repaid in 2019.

The NCDs will be listed on the Wholesale Debt Market segment of National Stock Exchange of India Limited. The proceeds will be used for general corporate purposes of the Company, including repayment of maturing foreign currency convertible bonds, capital expenditure and working capital as permitted by the Reserve Bank of India for bank finance.

The joint lead arrangers of these NCDs are Standard Chartered Bank, IDFC Limited, Yes Bank Limited, Axis Bank and Deutsche Bank.