UltraTech Cement receives approval to raise INR30bn
India’s UltraTech Cement has received approval to raise INR30bn (US$411.42m) through the issuance of US dollar-denominated bonds.
The proceeds from the issuance are expected to be used to refinance existing rupee debt, with the remainder reserved for regular ongoing capital expenditure requirements and general corporate purposes.
The bonds will be offered and sold within the US in one or more tranches.
