Debt financing
Summit Digitel Infrastructure raises Rs,1,000-Cr
Business Standard Summit Digitel
Mumbai- based Summit Digitel Infrastructure Ltd , formerly Reliance Jio Infratel, has raised INR 1,000 crore through redeemable non-convertible debentures (NCDs) at a coupon rate of 7.58 % .Private sector lenders Yes Bank and Axis Bank have subscribed to 30 per cent of the issue size as anchor investors. They are also the arrangers of the issue. The NCDs have a tenor of seven years and will mature in October 2031. The fresh funds will be used by the company refinancing, repayment, and prepayment of existing indebtedness.Founded in 2020, Summit Digitel is a digital infrastructure provider with over 175,000 sites in operation
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