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Board of Tata Steel approves issue of debt securities up to Rs 9000 crore

Capital Market 

At meeting held on 20 April 2017

The Board of Directors of at its meeting held on 20 April 2017 reviewed the performance, capital structure and financing plan of the Company. Based on the review and pursuant to the existing shareholders approval, the Board approved issue of debt securities of up to Rs. 9,000 crore in the form either of Non-Convertible Debentures on private placement basis or Foreign Currency or Rupee Denominated Bonds or a combination thereof in one or more tranches. The funds will primarily be deployed towards re-financing the existing debt, capex/working capital requirements and general corporate purposes. The Board of Directors also authorized the Finance Committee of the Board to determine and approve the timing and terms of such issue of securities.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 21 2017. 08:51 IST