JP Morgan Securities invests Rs 300 crore in IL&FS Transportation – Feedback

IL&FS Transportation Networks today said it has raised Rs 300 crore through allotment of non-convertible debentures to JP Morgan Securities Asia and JP Morgan Securities India.

Gujarat Road and Infrastructure Company Ltd (GRICL), an associate of the company, had allotted 3,000, 9 per cent Rated, Listed, Secured, Redeemable, NCDs of face value Rs 10,00,000 each aggregating to Rs 300 crore on a private placement basis to JP Morgan Securities Asia and JP Morgan Securities India, it said in a regulatory filing. Rating agencies ICRA and CARE have given Provisional Rating for the NCDs as ‘AAA(SO)’, it added. “The funds raised from the issue of the aforesaid NCDs will be utilised by GRICL for repayment/prepayment of the existing Deep Discount Bonds and NCDs carrying interest rate of 15.5 per cent per annum,” the filing said.

http://economictimes.indiatimes.com/industry/banking/finance/jp-morgan-securities-invests-rs-300-crore-in-ilfs-transportation/articleshow/51829716.cms

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