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Sunteck Realty issues commercial paper of Rs 25 cr

Capital Market 

The commercial paper offering interest of 7% per annum will mature on 13 November 2020.

Mumbai-based real estate player Sunteck Realty said that it has issued commercial paper of Rs 25 crore. In an exchange filing made after the trading or market hours on Friday (17 July), the company said the commercial papers are proposed to be listed on BSE.

The commercial paper offering coupon or interest of 7% per annum will mature on 13 November 2020. The tenure of the commercial paper issued by Sunteck Realty is 120 days. Credit rating obtained for commercial paper is IND A1+ by India Ratings & Research.

In the filing, the real estate developers said that the commercial paper issued by it does not attach special right. A commercial paper is a short-term debt instrument that companies issue to raise funds.

Shares of Sunteck Realty slipped 1.23% to Rs 165.25 on Friday (17 July).

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

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First Published: Sat, July 18 2020. 12:53 IST