Tata Capital offers NCD holders option to extend investments

Non-banking lender Tata Capital today said it has decided to give its Non-Convertible Debentures (NCD) investors the option of extending their investments for five more years.

"To provide investors with options to continue their investments at competitive interest rates, Tata Capital Financial Services (TCFSL), has announced its proposal to continue its secured redeemable NCDs issued to the public," it said in a statement.

The coupon rates offered for the redeemed NCDs will vary between 9.75 per cent and 10.50 per cent, it said, adding that investors wanting to extend will have to give their consent.

Those NCD investors who do not want to opt for the option, can redeem on March 5, 2014, the statement said.

No further details about the original NCD issue were immediately available.

Trading in the NCDs will be suspended and resume only after March 6, 2014, it added.