Ugro Capital Ltd. Allots USD 20 Million in Foreign Currency Bonds
Ugro Capital Ltd. announced on Friday, March 27, 2026, that its Investment and Borrowing Committee approved the allotment of up to 2,000 senior, secured, rated, listed, redeemable, United States dollar-denominated non-convertible foreign currency bonds through a private placement. The bonds have a face value of USD 10,000 each, aggregating up to a total of USD 20,000,000.The bonds are proposed for listing on India International Exchange IFSC Limited. The tenure of the instrument is 48 months, with a deemed date of allotment of March 27, 2026, and a maturity date of March 27, 2030. The coupon rate is 300 basis points plus Term SOFR to be determined on the Quotation Day. Interest payments are scheduled semi-annually, with redemption occurring in three semi-annual installments beginning March 27, 2029.
The facility is secured by a first-ranking exclusive charge over identified book debts in favor of the Security Trustee, maintaining a security cover of at least 110% of outstanding principal and interest.
The redemption schedule is as follows: 25% redemption at the end of 36 months, 25% at the end of 42 months, and a 50% redemption at par upon the relevant maturity date. In the event of delayed interest or principal payments, the coupon rate will increase by 2.0% per annum on the outstanding principal amount until the default is cured.
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | Type of securities | Senior, secured, rated, listed, redeemable, united states dollar denominated non-convertible foreign currency bond(s) having face value of USD 10,000/- (United States Dollars Ten Thousand only) each aggregating up to USD20,000,000/- (USD Twenty Million only) (' Bonds ') |
| 3 | Size of Issue | Up to USD 20,000,000/- (USD Twenty Million only) |
| 5 | Tenure of instrument | 48 (Forty- Eight) months from the deemed date of allotment of the Bonds. |
| 7 | Date of maturity | 27 th March 2030 |
| 8 | Coupon/interest Rate | 300 (Three Hundred) basis points plus Term SOFR to be determined on the Quotation Day |
| 10 | Charge/Security, if any, created over the assets | The Facility will be secured by way of a first ranking exclusive charge over identified book debts in favour of the Security Trustee up to a security cover of at least 110% of principal and interest outstanding, to be maintained at all times. The book debts shall be identified on the basis of the eligibility criteria prescribed by the bond holder(s). |
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