Torrent Pharmaceuticals Limited - AA Rated (INE685A07082)

Torrent Pharmaceuticals Limited, a Pharmaceuticals company, has floated Debenture, having ISIN value as INE685A07082, with a face value of ₹5,71,420 rs on 14Dec17 to raise 571.42 crores. The debt instrument is issued with a coupon rate of 7.98% (T-BILL RATE+ SPREAD OF 1.72% COUPON TO BE RESET EVERY 6 MONTHS) and its interest is paid Annually. The returns are Taxable and one has to pay the applicable tax on the returns from this investment. As per the filings, the long description of this Secured Debenture is T-BILL RATE LINKED SECURED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES. LETTER OF ALLOTMENT. DATE OF MATURITY 12/12/2025. This instrument is issued in Private Placement mode. It has Simple coupon type with Partial Redemption By Face Value option. The Debenture is listed on NSE stock exchange on 15Dec17. INDIA RATING AND RESEARCH PVT. LTD has given AA+ rating to this Debenture on 05Apr18. Neither the Principal nor the Interest is covered for this Debenture. Yes, this debt instrument is Perpetual In Nature.