Hindustan Copper Ltd. — Capital/Financing Update 2020

Jul 28, 2020

-,

HINDUSTAN COPPER LIMITED CIN No. : L27201 WB1967GOI028825

~ 'I'l JI'WI ~ Reolslered & Heed Office

<Ill! 1{q.f TAMRA BHAVAN 1, ~ -.J'rtRt " 1, Ashutosh Chowtllury Avenue tIIo<lfo;flo P.B. NO. 10224 ' ~ KOLKATA.700019

'Iffif 'IRiI>f{ 'I>T'3'lJIjlf A GOVT. OF INDIA ENTERPRISE

No. HCL/SCY/SE/ 2016 28.7.2020

The Sr. General Manager Dept. of Corporate Services BSELimited' Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001 BSEScrip Code: 513599

The Vice President Listing Department National Stock Exchange of India ltd Exchange Plaza, C-1, Block G Bandra-Kurla Complex, Bandra(East) Mumbai 400 051 NSESymbol: HINDCOPPER

Sir / Madam,

It is informed that ICRA Ltd vide letters dated 28.7.2020 has assigned Credit Rating for RS.1,600 crore Line of Credit and Rs.100 Commercial Paper of Hindustan Copper ltd. Copy of above letters are enclosed.

The above is submitted pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for information please.

Thanking you,

Yours faithfully,

Q

(C S Singhi) ED (IAl & Co Secretary

Encl. as stated

ICRA ICRA Lilni ted

Ref ICRA/KOL/RA/2020-2.1/l61

July 28, 2020

Mr. Ravi K Gupta DGM - Finance Hindustan Copper Limited Tamra Bhavan I, Ashutosh Choudhury Avenue Kolkata 700019

Dear Sir,

Re: ICRA - assigned Credit Rating for Rs. 1,600 erore Line of Credit of Hindustan Copper Limited as per Annexure

Please refer the Rating Agreement dated May 0 1,2019 - and RRF No. Kol/20 19-20/0 18 dated May 0 J, 2019 between ICRA Limited ("[CRA") and your company, whereby, ICRA is required to review the ratings assigned to your company on an annual basis or as and when the circumstances so warrant.

Please note that the Rating Committee of reRA, after due consideration, has revised the long-term rating for the captioned Line ofCJ.edit (LOC) from [lCRA] AA+ (pronounced [CRA double A plus) to [lCRA] AA (pronounced lCRA double A)t The Outlook on the long-term rating is revised from Negative to Stable. The Rating Committee of lCRA has reaffirmed the short-term rating for the captioned LOC at [ICRA] A [+ (pronounced ICRA A one plus).

The rating(s) assigned must be understood solely as an opinion and should not be treated, or cause to be treated, as recommendation to buy, sell, or hold the rated bank facility availed by your company.

The ratings as stated above are specitic to the terms and conditions of the LOC as indicated to us by you. In case there is any change in the terms and conditions, or the size of the rated LOC, the same must be brought to our notice immediately. Any such change would warrant a rating fevic".", following which there could be a change in the ratings assigned. Nonvithstanding the foregoing, any change in the overall limit of the LOC from that specificd in the first paragraph of this letter would constitute an e-nhanccmcnt that would not be covered by or under the said Rating Agreement.

FMC Fortuna, A-10 & 1',3" Floor Tel. : +91.33.71501100 Website : www.icra-in 234i3A, AJ.C. Bose Road CIN . L74999DL1991 PLC042749 Email: info@icraindia.com Kolkala - 700020 Helpdesk: +91.124.3341580 Registered Office: 1105, KClilasil Building. 11'" Floor, 26 Kaslurba Gandhi Marg, New Delhi - 110001. Tel.: +91.11.23357940.45 RATING RESEARCH INFORMATION

t For complete rating definition please refer to TCRA Website www.icra.in or any of the feRA Rating Publications

ICRA reserves the right to review and/or, revise the above rating at any time on the basis of new information or unavailability of information or such other circumstances, which ICRA believes, may have an impact on the rating assigned to you.

You are requested to furnish a monthly 'No Default Statemel1t (NDS) , (in the format enclosed) on the first working day of every month, confirming the timeliness of payment of all obligations against the rated debt programme [interest and principal obligations for fund based as well as obligations under LOC/BG for non-fund based facility]. This is in accordance with requirements prescribed by the Securities and Exchange Board of India ("SEBI") vidc circular dated June 30, 2017.

You are also requested to inform us forthwith of any default or delay in the payment of interest and/or principal against the rated debt programme, or any other debt instruments and/or borrowings of your company. Further, you are requested to keep us informed of any other developments that could have a direct or indirect impact on the debt servicing capability of your company, with such developments including, but not limited to, any proposal for re-schedulemcnt or postponement of repayment against any dues and/or debts of your company with any lender(s) andlor investor(s).

\Vc thank you for your kind co-operation extended during the course of the rating exercise. Please let us know if you need any clarification.

~'clook forward to further strengthening our existing relationship and assure you of our best services.

With kind regards,

Yours sincerely, for ICRA Limited

JAYANTA ROY

Jayanta Roy Senior Vice President j avan la(d icraindi a.com

Encl: ala

'No Default Statement 011tlIe CompllllY Leffel' IJelld'

To,

ICRA Limited Building NO.8, 2nd Floor, Tower A, DLF Cyber City. Phase II. Gurugral11-122002

Dear Sir! Madam.

• 1. We hereby confirm that as on date. there are-no over-dues or default on our listed debt obligations. (Securities).
• 1. We hereby confirm that as on date there are no overducs or default on our unlisted debt obligations. (Securitic-s).
• 1. Vie also confirmlhal in the month ended «Month and Year name», there has been 110instance of delay in servicing of our listed debt obligations (Securities).
• 1. We also confirm that in the month ended «Month and Year name», there has been no instance of delay in servicing of our un-listed debt obligations(Securities).
• 5. Vie also confirm that in the month ended «l\1onth and Year name», there hns been no instance of delay in servicing of debt obligations guaranteed by us.
• 1. We hereby confirm that as on date and in the month ended «Month and Year name» there are no over dues or default on payment of interestlinstal1ment obligations on loans from bankslfinancial institutions.
• 1. We hereby confirm that as on date there are no over dues or default on payment of imerest/installment obligations on loans from banks/financial institutions which continues beyond 30 days.
• 1. V../ehereby contiI'm thcHas on date there arc no over dues or default on revolving facilities like cash credit, from banks/financial institutions which continues beyond 30 days.
• 1. Vve also confirm that then::: is no amount remaining unpaid for more than 30 days from the invocation of the bank guarantee facilities or devolve-ment of Letters oferedit as on date / in the month ended «Month and Year name» Vie also confirm that there has not been any instance of devolvement of Letter of Credit in the month ended «Month and Year name»
• 1. Vle also confirm that there has beell 110 overdrawal of the drawing power sanctioned by the bank for a period of more than 30 consecutive days in case of bank facilities which do not have scheduled maturity/repayment dates.
• II. Details of default in payment of interest/installment obligations on loans including revolving facilities like cash credit from banks/financial institutions and any overdraws beyond what is sanctioned by the bank, beyond 30 days as on date/ in the month ended «Month and Year name», in any of the above case (if any):

Name ofLender	Natureofobligation	DateorDel'ault	Currentdel'aultamount	Amounttobe paid	ActualDateorPayment(ir any)	Remarks
Text	TermLoan, CC
Row 2

1. Delails of default in payment of principal/interest obligations as on date! in the month ended «Month and Year name», on our listed and unlisted debt obligations (Securities), in any of tho above easc (if any):

Name of theInstrument	ISIN	Amounttobe paid	Due Dateof Payment	ActualDateof Payment	Remarks
NeD

Thanking You,

Yours faithfully,

Annexure

Ratedon Long Term	Scale
Bank	Facility	AmountinRs Cr	Rating	Assignedon
State Bank of India		175
United Bank of India		Y6
Punjab NationalBank		45
HDFC Bank	Fund Based	15
Axis Bank	Facilities	10	[ICRA]AA(Stable)	July 27, 2020
ICICI Bank		8
Indian OverseasBank		I
Total		350
Bank	Facility	AmountinRs Cr	Rating	Assignedon
Exim Bank	Term Loan	367	[ICRAJAA(Stable)	July 27, 2020
State Bank of India	Term Loan	190	[ICRA]AA(Stable)	July 27,2020
United Bank ofIndia	Term Loan	100	[ICRA]AA(Stable)	July 27,2020
HDFC Bank	Term Loan	100	[ICRA]AA(Stable)	July 27, 2020
Axis Bank	Term Loan	28	[ICRA]AA(Stable)	July 27, 2020
Total		785

Rated on hoth Long Term and Short-Term Scales

Bank	Fadlity	AmountinRsCr	Rating	Assignedon
Other Banks+(ConsortiumUnallocated)		465	On Long-TermScale - [CRA]AA(Stable)On Short-TermScale - [ICRA]AI+	July 27, 2020
Total		465

ICRA ICRA Lilnited

Ref: ICRA/KOLfRA/2020-2I/162

July 28, 2020

Mr. Ravi K Gupta DGM - Finance Hindustan Copper Limited Tamra Bhavan I, Ashutosh Choudhury Avenue Kolkala 700019

Dear Sir,

Re: ICRA rating for Rs. 100 crore Commercial Paper programme of Hindostan Copper Limited

Please refer the Rating Agreemeot dated August 12, 2016 between ICRA Limited ("ICRA") and your company, whereby, IeRA is required to review the ratings assigned to your company on an annual basis or as and when circumstances so warrant.

Please note that the Rating Committee of ICRA, after due c.onsideration of the latest developments in your company, has reaffirmed the rating assigned to the aforementioned instrument at [ICRA] Al + (pronounced as ICRA A one plus). Instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations.

In any of your publicity material or other document wherever you are using our above rating, it should be stated as [ICRA] A 1+ (pronounced as ICRA A one plus).

Additionally, we wish to highlight the following with respect to the rating:

(a) If the instrument rated, as above, is not issued by you within a period of 3 months from the date of this letter, the rating would need to be revalidated before issuance;

(b) Subject to Clause (0) below, our rating is valid from the date of this letter till September 30, 202\ ("Validity Period''). The rating will generally be due for review at the end of the Validity Period. The maturity date of the cr shall not be after the end of the Validity Period. The CP will have a maximum maturity of twelve months.

(c) ICRA reserves the right to revicv,' and/or, revise the above rating at any time on the basis of new information or unavailability of information or such circumstances, which reRA believes, may have an impact on the aforesaid rating assigned to you.

FMC Forluna, A-l0 & 11,3" Floor Tel. ; +91.33.71501100 Website : www.icra.in 234/3A, A.J.e. Bose Road CIN: l74999DL1991PlC042749 Email: inlo@icraindia.com Koll<ala_700020 Helpdesk: +91.124.3341580 Registered Office: 1105, Kailash Building, 11" Floor, 26 Kasturba Gandhi Marg, New Delhi - 110001. Tel. : +91.11.23357940.45

The rating, as aforesaid, however, should not be treated as a recommendation to buy, sell or hold the CP issued by you. Thl': rating is restricted 10 your CP Programme size of Rs. 100 crarc only. In case, YOllpropose to enhance the size orcp Programme, the same would be required to be rated afresh. (eRA does 110t assume any responsibility on its part, for any liability, that may arise consequent to your not complying with any eligibility L:riteria, applicable from time to time, for issuance ofCP.

You are requested to furnish a monthly 'No D~tiwlt Statement (NDS) , (in the format enclosed) on the tirst working day of every month, confirming the timeliness of payment of all obligations against the rated debt programme. This is in line \vith requirements as prescribed by the Securities and Exchange Board of India (SEBI) vide SEBI circular dated June 30, 2017.

You are also requested to forthwith inform us about any default or delay in repayment of interest or principal amount of the instrument rated~ as above~ or any other debt instruments/ borrowing and keep us informed of any other developments which may have a direct or indirect impact on the debt servicing capability of the company including any proposal for re-schedule-ment or postponement of the repayment programmes of the duesl debts of the company with any lender(s) I invcstor(s]. Further, you are requested to inform us immediately as and when the borrowing limit for the instrument rated, as above, or as prescribed by the regulatory authcirity(ies) is exceeded.

\Vc thank you for your kind cooperation extended during the course of the rating exercisc. Should you re.quire any clarification, please do not hesitate to get in touch with us.

We look forward to further strengthening our existing relationship and assure you of our best services.

With kind regards,

Yours sincerely, for ICRA Limited

Jayanta Roy Senior Vice President 1!Yi.1DJ~!i$i£fai.mlia.com

Ene!: ala

l

To,

ICRA Limited Building No.8, 2nd Floor, Tower A, DLF Cyber City, Phase II, Gurugram -122002

Dear Sir/ Madam.

• I. We hereby confirm thal as on date there arc no ovcrducs or default on our listed debt obligations. (Securities).
• 1. We hereby confirm that as on date there are no overdues or default on our unlisted debt obligations. (Securities).
• 1. We also confirm that in the month ended «I\1ooth and Year name», there has been no instance of delay in servicing of our listed debt obligations (Securities).
• 1. \Ve also confirm that in the month ended «Month and Year name», there has been no instance of delay in servicing of our un-listed debt obligations(Securities).
• 1. We also confirm that in the month ended «iVlonth and Year name», there has been no instance of delay in servicing of debt obligations guaranteed by us.
• 1. We hereby confirm that as on date and in the month ended «Month and Year name» there are no over dues or default on payment of interest/installment obligations on loans ti"om banks/financial institutions"
• 1. We hereby contiI'm that as on date there are no over dues or default on payment of interest/installment obligations on loans from banks/financial institutions which continues beyond 30 days.
• 1. Vie hereby confirm that as on date there are no over dues or default on revolving facilities like cash credit, from banks/financial institutions which continues beyond 30 days.
• 1. \/e also confirm that there is 110 amount remaining unpaid for more than 30 days from the invocation of the bank guarantee facilities or devolve-ment of Letters of Credit as on date / in the month ended <<"Month and"Year name» Vlc also confirm that there has not been any instance of devolve-ment of Letter of Credit in the month ended «Month and Year name»
• 1. We also confirm that there has been no overdrawal of the drawing power sanctioned by the bank for a period of marc than 30 consecutive days in case of bank facilities which do not have scheduled maturity/repayment date,,;.
• 1. Details of default in payment of interest/installment obligations on loans including revolving facilities like cash credit from banks/financial institutions and any overdraws beyond what is sanctioned by the bank, beyond 30 days as on date/ in the month ended «Month and Yea" name», in any of the-above case (if any):

N~lme ofLender	Natureofobligation	Date ofDefault	Currentdefaultamount	Amounttobe paid	ActualDate ofPayment(if any)	Remarks
Text	TermLoan. CC
Row 2

1. Details of default in payment of principal/interest obligations as on date! in the month ended «1'Tooth and Year name», on our listed and unlisted debt obligations (Securities), in any of the above case (if any):

Nameof lheInstrument	ISIN	Amounttobe paid	Due Daleof Payment	AclualDaleofPaymcut	Remarks
NCD

Thanking You,

Yours faithfully,