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| Exchange Received Time 18/01/2018 17:47:01 Exchange Disseminated Time 18/01/2018 17:47:06 Time Taken 00:00:05 | We wish to inform that at the Meeting of the Board of Directors held today, an in-principle approval was granted for issuance of following securities:
(i) Masala Bonds upto ? 2,000 Crore
(ii) Rated Secured USD denominated Bonds upto USD 500 Million
Further details in connection with the issue of above securities will be intimated prior to its issue
The proceeds of the issue will be primarily used to repay high interest bearing short term debt by a security with a lower interest cost having long term maturity
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