Description

Modification to coupon rate step-up provisions for Series A and Series B Debentures, reducing the step-up rate from 0.4915%/0.4689% to 0.25% respectively.

Summary

Tyger Capital Private Ltd has modified the terms of its Series A and Series B Debentures, specifically reducing the coupon rate step-up provisions. The step-up rates have been standardized to 0.25% per annum for both series, down from the previous rates of 0.4915% for Series A and 0.4689% for Series B.

Key Points

  • Series A Debentures coupon rate step-up reduced from 0.4915% to 0.25% per annum
  • Series B Debentures coupon rate step-up reduced from 0.4689% to 0.25% per annum
  • Both step-up rates now standardized at 0.25% (Zero Decimal Point Two Five Percent)
  • Step-up applicable from Put Option Date/Call Option Date until Maturity Date
  • Modifications made to Debenture Trust Deed clauses 2.3.2 (a) and 2.3.2 (b)

Regulatory Changes

Amendment to the Debenture Trust Deed terms relating to coupon rate step-up provisions for both Series A and Series B Debentures.

Compliance Requirements

  • Debenture holders to be notified of the modified terms
  • Updated Debenture Trust Deed provisions to be implemented
  • Compliance with debt securities regulatory framework

Important Dates

  • Effective from Put Option Date/Call Option Date for respective series
  • Applicable until respective Maturity Dates

Impact Assessment

The modification results in lower interest costs for the issuer and reduced returns for debenture holders when step-up provisions are triggered. This represents a favorable change for Tyger Capital Private Ltd while potentially impacting investor returns on these debt securities.

Impact Justification

Technical modification to debenture terms with moderate impact on debt security holders