Description

BSE circular providing updated cash flow schedules for three series of Non-Convertible Debentures (NCDs) issued by ECL Finance Limited with revised interest rates and payment dates.

Summary

BSE has issued an update regarding debt securities of ECL Finance Limited, providing detailed cash flow schedules for three series of Non-Convertible Debentures (NCDs). The circular includes revised interest rates and payment schedules for NCDs with ISINs INE804I071Y3, INE804I072X3, and INE804I078Q4.

Key Points

  • Cash flow details provided for three NCD series of ECL Finance Limited
  • Interest rates have been revised upward for all three series
  • Principal repayments scheduled in tranches for some series
  • Annual interest payment frequency maintained across all series
  • LIP (Last Interest Payment) dates specified for rate increase triggers

NCD Series Details

ISIN INE804I071Y3:

  • Face Value: Rs. 100
  • Allotment Date: August 31, 2018
  • Maturity: August 31, 2028 (10 years)
  • Interest Rate: 9.85% → 10.10% → 10.35%
  • LIP Date: August 31, 2024
  • Principal repayment in three tranches (Dec 2027, Mar 2028, Jun 2028)

ISIN INE804I072X3:

  • Face Value: Rs. 100
  • Allotment Date: September 19, 2017
  • Maturity: September 17, 2027 (10 years)
  • Interest Rate: 8.50% → 8.75% → 9.00%
  • LIP Date: September 19, 2024
  • Partial principal repayment in June 2027

ISIN INE804I078Q4:

  • Face Value: Rs. 100
  • Allotment Date: March 6, 2017
  • Maturity: March 5, 2027 (10 years)
  • Interest Rate: 9.25% → 9.50%
  • LIP Date: March 6, 2025
  • Principal repayment in four quarterly tranches during 2026

Important Dates

  • INE804I071Y3: Final redemption August 31, 2028
  • INE804I072X3: Final redemption September 17, 2027
  • INE804I078Q4: Final redemption March 5, 2027
  • Various coupon payment dates throughout the respective tenors

Impact Assessment

This update provides clarity to debt security holders regarding their expected cash flows and revised interest payments. The upward revision in interest rates benefits investors, while the structured principal repayment schedules help in better cash flow planning. Investors in ECL Finance NCDs should note the revised payment schedules for their investment planning.

Impact Justification

Important disclosure for debt investors regarding payment schedules and interest rate changes for ECL Finance NCDs