THDC Corporate Bond Series X of Rs 750 crore oversubscribed by 8 times

New Delhi: THDC India Limited a prominent entity in the energy sector, has achieved a significant milestone by successfully raising Rs 750 crore through the issuance of THDC Corporate Bonds Series- X.

THDC's Chairman and Managing Director (CMD) RK Vishnoi while expressing satisfaction over overwhelming response from the investors informed that the issue comprises of a base size of Rs 250 crore and a green shoe option of Rs 500 crore, i.e. total issue size of Rs 750 crore, with a tenor of 10 years.

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According to Vishnoi, the funds raised through this issue will be utilized to partly meet debt requirements of THDC’s ongoing and under-construction projects including recoupment of expenditure already incurred and to refinance the existing loans.

He further mentioned that the bonds issue attracted considerable investor interest, leading to a noteworthy oversubscription of approximately 8 times the base issue size, amounting to Rs 2072.42 crore.

He added that this accomplishment underscores the confidence of investors in THDC’s financial stability and operational performance. The competitive coupon rate of 7.76 percent p.a. discovered through BSE–Electronic Bidding Platform, further reinforces the trust placed in THDC Corporate Bonds.

Additionally, these bonds have received a credit rating of “AA outlook Positive” from India Ratings and “AA outlook Stable” from CARE, emphasizing the company's robust creditworthiness.

The bidding for this successful bond issue took place on May 27 at THDC's Corporate Office in Rishikesh. The assignment was coordinated by THDC's CFO AK Garg, THDC's Company Secretary Rashmi Sharma and BSE Head Northern Region (Fixed Income) Hemlata Agarwal.

As of present, THDC has issued a total of 10 series of Bonds and has successfully raised funds amounting to Rs 8,542 crore from the corporate debt market. All of these bond issues have consistently elicited strong investor interest displaying market confidence on THDC.

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