REG - Tata Steel Limited - Outcome of the Meeting of Committee of Directors

TATA SteelAnnouncement

14/02/2025 09:45

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RNS Number : 1931X  Tata Steel Limited  14 February 2025

 

 

February 14, 2025

London Stock Exchange

London

 

Sub: Outcome of the Meeting of Committee of Directors - Issue of
Non-Convertible

Debentures ('NCDs') aggregating to ₹3,000 crore

 

Dear Madam, Sirs,

 

This has reference to our notice dated February 11, 2025.

 

The Committee of Directors (constituted by the Board of Directors of Tata
Steel Limited), at its meeting held today i.e., February 14, 2025, considered
and approved the issue of NCDs, as per the following terms and conditions:

 

 Type of securities proposed to be issued                                        Fixed Rate, Unsecured, Redeemable, Rated, Listed, NCDs.

 (viz. equity shares, convertibles etc)
 Type of Issuance (further public offering,                                      Issued to eligible investors on a Private Placement basis

 rights issue, depository receipts (ADR/GDR), qualified institutional
 placement, preferential allotment etc.)
 Total numbers of securities proposed to be issued or the total amount for       3,00,000 NCDs of face value ₹1,00,000 each aggregating to ₹3,000 crore
 which the securities will be issued (approx..)
 Size of the issue                                                               3,00,000 NCDs of face value ₹1,00,000 each aggregating to ₹3,000 crore
 Whether proposed to be Listed? If yes, name of the Stock Exchange(s)            Yes. Wholesale Debt Market Segment of BSE Limited.
 Tenure of the instrument - date of allotment and date of maturity               Date of allotment: February 21, 2025*

                                                                                 Date of Maturity: February 21, 2030*

                                                                                 *Tentative
 Coupon/Interest offered, schedule of payment of coupon/interest and principal   Coupon/interest offered: Fixed Rate

                                                                                 Coupon basis bidding at Electronic Book Provider (EBP) Platform of BSE. The
                                                                                 bidding on EBP can be on multiple yield allotment basis.

                                                                                 Schedule of payment of coupon/interest:

                                                                                 Annual Interest Payment

                                                                                 Schedule payment of principal: Bullet

                                                                                 repayment at the end of maturity period
 Charge/security, if any, created over the assets                                None. The NCDs are unsecured.
 Special right/interest/privileges attached to the instrument and changes        None
 thereof
 Delay in payment of interest / principal amount for a period of more than       Not Applicable
 three months from the due date or default in payment of interest / principal;
 Details of any letter or comments regarding payment/non-payment of interest,    None
 principal on due dates, or any other matter concerning the security and /or
 the assets along with its comments thereon, if any;
 Details of redemption of preference shares indicating the manner of redemption  Bullet repayment at the end of 5 years from the date of allotment
 (whether out of profits or out of fresh issue) and debentures;
 Any cancellation or termination of proposal for issuance of securities          Not Applicable
 including reasons thereof.
 Credit Rating                                                                   'AAA' by India Ratings and 'AA+' by CARE Ratings Limited

 

The meeting started at 1:00 p.m. (IST) and concluded at 2:20 p.m. (IST).

 

This disclosure is made in terms of Regulation 30 read with Regulation 51 and
other applicable provisions of Securities Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015, as amended.

 

This is for your information and records.

 

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