Ballarpur Industries raises Rs 1400 million via debentures
Ballarpur Industries which needs certain portion of funds in long-term nature has raised Rs 1400 million through a credit enhanced debenture issue arranged by the Netherlands Development Finance Co and Citibank. The credit enhanced issuance fits perfectly with the restructuring efforts of the Industry. The issuance rated AA+ (fso) by Crisil and Ind AA+ (so) by Fitch. This is the first dual-rated credit enhanced debenture to be issued in the markets by any Indian company.
