Times Group Raises Debt Funding of $75 Million
Bennett Coleman and Company Limited, the media group that owns The Times Group recently raised a funds worth INR 500 Cr ($ 75M) in a non-convertible debenture-funding round with the participation of a string of investors.
According to Investopedia, "Nonconvertible debentures are unsecured bonds that cannot be converted to company equity or stock. Nonconvertible debentures usually have higher interest rates than convertible debentures."
The media group issued unsecured, unlisted, rated, redeemable, non-convertible debentures for a period of 3 years with a coupon rate of 7.48% per year and paid annually.
The lenders participating in this debt funding round are ICICI Lombard General Insurance with Rs 200 Cr, DSP Blackrock Short Term Fund with Rs 160 Cr, Aditya Birla Sun Life Insuranc...