Tata Power today announced that it has issued two series of Non-Convertible Debentures (NCDs) worth Rs 15 billion on a private placement basis.

The 9.32% unsecured, non-cumulative, redeemable, listed, and rated Series 1 NCDs aggregating Rs 10 billion will repaid in 2017. The 9.48% unsecured, non-cumulative, redeemable, listed and rated Series 2 NCDs aggregating Rs 5 billion will be repaid in 2019.
 
The NCDs will be listed on the Wholesale Debt Market segment of National Stock Exchange of India Limited. The proceeds will be used for general corporate purposes of the Company, including repayment of maturing foreign currency convertible bonds, capital expenditure and working capital as permitted by the Reserve Bank of India for bank finance.

Shares of the company gained Rs 0.3, or 0.34%, to trade at Rs 88.75. The total volume of shares traded was 289,075 at the BSE (3.25 p.m., Tuesday).