China Aluminium Network
India's Hindalco Industries plan to raise up to INR30 billion via bonds
Edited by : AL CIRCLE
1 min read
MUMBAI – India's Hindalco Industries Ltd. (500440.BY) plans to raise up to INR30 billion by selling bonds, according to an invitation seeking bids from bankers.
The Aditya Birla group unit, which sells aluminum and copper, plans to privately place 10-year secured bonds, said the invitation, seen by Dow Jones Newswires Tuesday.
The issue has a core size of INR15 billion and the company has the option to raise an additional INR15 billion if bids exceed the original issue size.
Separately, three people familiar with the matter told Dow Jones Newswires that bids have to be submitted by 0830 GMT Wednesday.
The bonds have been rated AA+ by ratings agencies Crisil and Care.
A spokesman for Hindalco couldn't immediately be reached for comment.
The Aditya Birla group unit, which sells aluminum and copper, plans to privately place 10-year secured bonds, said the invitation, seen by Dow Jones Newswires Tuesday.
The issue has a core size of INR15 billion and the company has the option to raise an additional INR15 billion if bids exceed the original issue size.
Separately, three people familiar with the matter told Dow Jones Newswires that bids have to be submitted by 0830 GMT Wednesday.
The bonds have been rated AA+ by ratings agencies Crisil and Care.
A spokesman for Hindalco couldn't immediately be reached for comment.
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