02 JULY 2012Dealcurry.com
Hindalco to Raise Funds Through NCDs
Edited by : AL CIRCLE
2 min read
Hindalco has issued 10-year R1500Cr 9.55% secured redeemable NCDs having face value of R10 lakh each through private placement. These funds will be used for capital expenditure, working capital and debt refinancing.
In April, it raised around R3000Cr through NCDs.
Hindalco is currently implementing large-scale integrated projects for its aluminium business; the total project cost is estimated to be over R300 billion for the medium term. The ongoing capex will increase the company’s aluminium smelting capacity to around 1700 ktpa by 2014-15 from the current capacity of 590 ktpa.
Hindalco is the flagship company of the Aditya Birla group. The company commenced operations in 1962 with an aluminium unit at Renukoot, U.P. It has installed capacity to produce 590 ktpa of aluminium and 1700 ktpa of alumina. The company is also a custom smelter in the copper business having installed capacity of 500 ktpa.
Recently, the group company was planning to invest $1Bn for 20-40% stake in American thermal coal miner Drummond Company.
Recently in this space, Vedanta Resources PLC acquired 24.5% stake in Raykal Aluminium Company Private Limited for R200.7Cr.Parekh Aluminex acquired New Jersey based American Foils Inc.
Tata Steel Limited was also planning to raise R500Cr from the 10-year bonds with an innovative offering.
In April, it raised around R3000Cr through NCDs.
Hindalco is currently implementing large-scale integrated projects for its aluminium business; the total project cost is estimated to be over R300 billion for the medium term. The ongoing capex will increase the company’s aluminium smelting capacity to around 1700 ktpa by 2014-15 from the current capacity of 590 ktpa.
Hindalco is the flagship company of the Aditya Birla group. The company commenced operations in 1962 with an aluminium unit at Renukoot, U.P. It has installed capacity to produce 590 ktpa of aluminium and 1700 ktpa of alumina. The company is also a custom smelter in the copper business having installed capacity of 500 ktpa.
Recently, the group company was planning to invest $1Bn for 20-40% stake in American thermal coal miner Drummond Company.
Recently in this space, Vedanta Resources PLC acquired 24.5% stake in Raykal Aluminium Company Private Limited for R200.7Cr.Parekh Aluminex acquired New Jersey based American Foils Inc.
Tata Steel Limited was also planning to raise R500Cr from the 10-year bonds with an innovative offering.
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