MTD Walkers raises Rs.3bn via debentures

29 September 2015 06:30 pm Views - 1313

Construction industry leader MTD Walkers PLC drew in Rs. 3.04 billion in debt funding through its debenture issue this week.

The company had opted for 25 million debentures valued at Rs. 100 each, with an option to offer another 5 million debentures in case of oversubscription, for a total of Rs. 3 billion.

MTD Walkers had offered two types of debentures. Type A debentures would be for 3 years with an annual rate of 9.99 percent and Type B would be for 5 years with an annual rate of 10.51 percent. The basis of allotment was for 100,000 debentures and 2.55 percent of the remaining debentures subscribed to be allotted to Type A and the rest to Type B.

The subscribers opted for 21.52 million Type A debentures with 25 applications, and 8.87 million Type B debentures with 12 applications.