Nirma raises Rs 4,000 crore debt

Nirma raises Rs 4,000 crore debt
17/09/2016 , by , in ALLIED


Detergent major Nirma agreed to buy the cement business of the French major Lafarge India, raised Rs 4,000 crore debt to fund the deal.
“ The Rs 4,000-crore five-year bond sale by Nirma offers a yield of 8.68 per cent was oversubscribed 1.5 times. This is the largest rupee bond sale for a leveraged acquisition as also the largest AA- rated debt instrument,” said an investment banking company.The Ahmedabad based company had appointed Barclays, Credit Suisse and IDFC to manage the issue.

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