ITNL Offshore Pte. Ltd. announces CNH 900 Million Notes Offering

ITNL Offshore Pte. Ltd., Singapore, a wholly owned subsidiary of IL&FS Transportation Networks Ltd has successfully priced a bond deal for CNH 900 million (Reg S only) Senior Unsecured Notes due 2021 at an annualized yield of 8% and has today completed the allocation to the investors.

This is the largest ever CNH bond issuance by the company in the International markets and one of the largest size achieved by an Indian Corporate in the CNH bond market.

These notes will be listed on the Singapore Stock Exchange. The proceeds of this bond would be primarily used to refinance the existing bonds of the company.

Shares of IL&FS Transportation Networks Ltd was last trading in BSE at Rs.93.25 as compared to the previous close of Rs. 89.05. The total number of shares traded during the day was 454530 in over 3547 trades.

The stock hit an intraday high of Rs. 94.1 and intraday low of 89.15. The net turnover during the day was Rs. 41661437.

Source : Equity Bulls

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