Coffee Day board to consider raising Rs 150 cr via NCDs

Coffee Day Enterprises (CDE), which runs Cafe Coffee Day, today said its board will meet later this week to consider raising up to Rs 150 crore through issuance of NCDs.
The amount raised will be used for "replacing debt", CDE said.
"The meeting of Board of Directors of the company is scheduled to be held on Thursday, March 30, 2017...To consider the issuance of rated redeemable, secured, un-listed non-convertible debentures for an amount not exceeding Rs 150 crore," CDE said in a BSE filing.
"The above mentioned issue of NCDs is for the purpose of replacing the existing debt," it added.

The company stock closed 1.52 per cent lower at Rs 233.35 on BSE.