Description
Updated cash flow schedules for three series of ECL Finance Limited Non-Convertible Debentures with revised interest rates and payment dates.
Summary
ECL Finance Limited has provided updated cash flow schedules for three series of Non-Convertible Debentures (NCDs) with revised interest rates and payment schedules. The update covers three ISIN series with varying maturity dates and interest rate structures.
Key Points
- Three NCD series affected: INE804I071Y3, INE804I072X3, and INE804I078Q4
- Interest rate increases implemented across all series
- Detailed cash flow schedules provided with specific payment dates
- Principal repayment schedules outlined for each series
- Face value of Rs. 100 per NCD across all series
NCD Series Details
Series 1 (INE804I071Y3):
- Allotment Date: August 31, 2018
- Maturity: August 31, 2028 (10-year tenor)
- Interest Rate: Originally 9.85%, increased to 10.10%, then 10.35%
- Outstanding Principal: Rs. 180 crores
Series 2 (INE804I072X3):
- Allotment Date: September 19, 2017
- Maturity: September 17, 2027
- Interest Rate: Originally 8.50%, increased to 8.75%, then 9.00%
- Outstanding Principal: Rs. 125 crores
Series 3 (INE804I078Q4):
- Allotment Date: March 6, 2017
- Maturity: March 5, 2027
- Interest Rate: Originally 9.25%, increased to 9.50%
- Outstanding Principal: Rs. 500 crores
Important Dates
- Interest payment dates vary by series with annual frequency
- Principal repayments scheduled in tranches for some series
- Final redemption dates: 2027-2028 depending on series
- Day count convention: Actual/Actual for all series
Impact Assessment
The interest rate increases will result in higher cash outflows for ECL Finance Limited and correspondingly higher returns for NCD holders. The detailed cash flow schedules provide transparency for investors to plan their expected receipts from these debt securities.
Impact Justification
Material update affecting cash flows of debt securities holders across three NCD series