Hindustan Petroleum Corp Ltd (HPCL) on Friday said it has raised Rs 2,000 crore in debt for funding its capital expenditure during the current year.
In a stock exchange filing, HPCL said it has “issued un-secured, redeemable, non-convertible, non-cumulative, taxable, debenture of Rs 10 lakh each aggregating to Rs 2,000 crores on private placement basis for funding of capital expenditure, including recoupment of expenditure already incurred”.
Coupon rate will be 4.79 per cent per annum for the debt instruments which will mature on October 23, 2023.
HPCL debt raising follows similar moves Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC) earlier this week.
