Ashok Leyland Ltd. — Capital/Financing Update 2020

Jun 19, 2020

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June 19, 2020

National Stock Exchange of India Ltd BSE Limited Exchange Plaza Phiroze Jeejeebhoy Towers C-1, Block G, Bandra Kurla Complex Dalal Street (E), Mumbai - 400 051 Mumbai - 400 001 Scrip Code: ASHOKLEY Stock Symbol: 500477

Through: NEAPS Through: BSE Listing Centre

Dear Sirs/Madam,

Sub: Regulation 30 (Disclosure of events or information)-Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

In continuation to our letter dated June 16, 2020, we hereby inform you that the Fund Raising Committee of the Board of Directors of the Company at its meeting held today, has approved the issuance of listed, Secured, Redeemable, Non-convertible Debentures (NCDs), with an aggregate amount up to Rs.200 Crores, on a private placement basis, in one or more tranches to certain eligible investors permitted to invest in the NCDs under applicable laws as per the details mentioned in Annexure - A.

The above is submitted pursuant to the Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 for your information and record.

The meeting of the Fund Raising Committee of the Board of Directors of the Company commenced at 7 p.m. hours and concluded at 7.30 p.m. hours.

Thanking you,

Yours faithfully, For Ashok Leyland Limited

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N Ramanathan Company Secretary

Encl.: a/a

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Annexure A

							Annexure	A
	S.N	o.	Particulars		Details
	1.		Size of the issue		Private placement of s	ecured, r	ated, liste	d,
					redeemable, non-convertib	le debentu	res of fac	e
					value Rs.10,00,000/- eac	h, aggrega	ting up t	o
					Rs.200 Crores
	2.		Whether proposed	to be listed,	Yes.
			if yes, name of	the stock	The National Stock Exchang	e of India Lt	d.
			exchange(s)
	3.		Tenure of the instr	ument- date	Three years from the deeme	d date of al	lotment.
			of allotment an	d date of
			maturity;
	4.		Coupon/interest	offered	7.65% per annum.
				,
			scheduleofpaymentofcoupon/ interest and principal;		Interest payable on annual basis. Payment Dates:June 25, 2021; June 25, 2022; June 25, 2023Principal: Bullet repayment at the end of 3 yearsfrom the deemed date of allotment
5.	5.		Charge/security, if any, created		To be secured through first charge over the specific
			over the assets		assets of the Issuer (both present and future) with1.10x cover at all times during the currency of theDebentures
6.			Specialright/interest/privilegesattached to the instrument andchanges thereof;		As per relevant private placement offer document.
7.			Delay in payment of interest /principal amount for a period ofmore than three months fromthe due date or default inpayment of interest /principal		Nil
8.			Detailsofanyletterorcomments regarding payment/non-paymentofinterest,principal on due dates, or anyother matter concerning thesecurity and /or the assetsalongwithitscommentsthereon, if any		As per relevant private placement offer document.
9.			Detailsofredemptionindicatingthemannerofredemption (whether out ofprofits or out of fresh issue) anddebentures		As per the relevant private placement offerdocument.

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