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RCF redeems Rs 200 cr commercial paper

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Press Trust of India New Delhi
Last Updated : Oct 10 2016 | 6:22 PM IST
State-run Rashtriya Chemicals and Fertilizers (RCF) today announced redemption of its commercial paper for Rs 200 crore.
Last month, the company had issued the commercial paper in favour of HDFC Bank with maturity date as October 10.
"This is to inform you that the commercial paper issued on September 29, 2016 for Rs 200 crore has been redeemed today," RCF said in a BSE filing.
Commercial paper is a money-market security issued by large corporations to obtain funds to meet short-term debt obligations and is backed only by an issuing bank or company promise to pay the face amount on the maturity date specified on the note.
RCF produces various grades of complex fertilisers at its plants located in Maharashtra.

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First Published: Oct 10 2016 | 6:22 PM IST

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