Abans Limited proposed senior unsecured redeemable debentures issue of up to 2 bn received a National long term rating of A-(lka) by Fitch Ratings. The debenture is expected to be issued in three tranches with maturities of three, four and five years fixed coupon rates. The proceeds will be used to re-finance part of the company's short term borrowings and will help reduce Aban's exposure to refinance and interest rate risk. Key rating drivers are current leverage levels strong market share and the string brands.
Abans Limited's 2 bn debenture
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