Fortis Healthcare to raise Rs 1,550 crore via senior secured NCDs

Fortis Healthcare Limited has announced the outcome of its Board meeting held on October 9, 2024, where two key decisions were made. The company approved the issuance of Non-Convertible Debentures (NCDs) worth ₹1,550 crore and appointed M/s Neelam Gupta & Associates as the Secretarial Auditor for the financial year 2024-25.

NCD Issue Details:

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Fortis Healthcare will issue senior, secured, redeemable Non-Convertible Debentures worth ₹1,550 crore in three series:

  1. Series 1: ₹500 crore – DBS Bank Ltd
  2. Series 2: ₹500 crore – The Hongkong and Shanghai Banking Corporation Limited (HSBC) through GIFT FPI
  3. Series 3: ₹550 crore – Citicorp Investment Bank (Singapore) Ltd., and Mizuho Bank, Singapore

The NCDs will have a tenure of five years, with annual coupon payments and amortized principal payments over the second to fifth years.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice.