Hindustan Copper Ltd. — Capital/Financing Update 2020

Apr 23, 2020

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HINDUSTAN COPPER LIMITED

www.hlndustancopper.com

\lrof~'lir ~ A GOVT. OF INDIA ENTERI'RISC

CIN : L27201WB1967GOI028825

No. HCLISCY/SE/ 2016

23.4.2020

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 its letter dated 23.4.2020 has assigned Credit Rating for RS.1,600 crore Line of Credit of Hindustan Copper Ltd. Copy of above letter is 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,

~~ (C S Singhi) GM (IA) & Co Secretary

Enc!. As stated

ti"ll'l'd ~ll'{R ifI1Clf(')Cl : 0TJilfil"i'I,1,~ ~ ~ti'r.-.n.K10224,q;)<'IqHdI-700 019 Registered & Head OffIce: Tamra Bhavan. 1. Ashutosh Chowdhury Avenue, P.B. NO. 10224. KoIkata-700 019 'i"lI" Tel: 2283-2226 (Hunting). ~ Fax: (033) 2283-247812640, ~--.loi E-mail: hcl_ho@hinduslancopper.com

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61" ,~ICRA
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ICRA Limited

Ref: ICRAIKOLIRAJZOZ8-Z1I34

Date: April 23, Z020

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 crore Line of Credit of Hindustan Copper Limited as per Annexure

Please refer the Rating Agreement dated May 01, 2019 - and RRF No. Kol/201 9-20101 8 dated May 01, 2019 between lCRA Limited ("ICRA") 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 lCRA, after due consideration, has reaffirmed the long-term rating for the captioned Line of Credit (LOC) at [ICRA] AA+ (pronounced (CRA double A plus).! The Outlook on the long-term rating is revised from Stable to Negative. The .Rating Committee of lCRA has also reaffirmed the short-term rating for the captioned LOC at [ICRA] A1+ (pronounced lCRA 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 specific 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 review, following which there could be a change in the ratings assigned. Notwithstanding the foregoing, any change in the overall limit of the LOC from that specified in the first paragraph. of this letter would constitute an enhancement that would not be covered by or under the said Rating Agreement.

t For complete rating definition please refer to ICRA Website WW\ •• . .icra.in or any of the ICRA Rating Publications

FMCFortuna. A.10 & 1,. 3'" ROOf Tel. : +91.33.71501100 Website :www,icra.in 234/3A, A.J.e. Sose Road CIN : L749990l1991 PLC042749 Email: info@icraindla.com Kolkata-700020 Helpdesk:+91.124.3341580 Registered Office: 1105. Kailash Building, 1'" FJoor,26 Kasturba Gandhi Marg, New Delhi. 110001. Tel.: +91.11.23357940-45 RATING' RESEARCH' INFORMATION

(I)rCRA

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 !CRA believes, may have an impact on the rating assigned to you.

You are requested to furnish a monthly 'No Default Statement (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 ("SEB!") vide 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-schedulement or postponement of repayment against any dues and/or debts of your company with any lender(s) and/or investor(s).

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

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

Jayanta Roy Senior Vice President i avanta(aJi craind ia.com

Encl: ala

CI)rCRA

'No Default Statement on the Company LeUer Head'

To,

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

Dear Sir/ Madam,

1. We hereby confirm that as on date there are no overdues or default on our listed debt obligations. (Securities).

2. We hereby confirm that as on date there are no overdues or default on our unlisted debt obligations. (Securities).

3. We also confirm that in the month ended «Month and Year name», there has been no instance of delay in servicing of our listed debt obligations (Securities).

4. 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. We also confirm that in the month ended «Month and Year name», there has been no instance of delay in servicing of debt obligations guaranteed by us.

6. 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 interestiinstallment obligations on loans from bankslfinancial institutions.

7. We hereby confirm that as on date there are no over dues or default on payment of interestiinstallment obligations on loans from banks/financial institutions which continues beyond 30 days.

8. We 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.

9. We also confirm that there is no amount remaining unpaid for more than 30 days from the invocation of the bank guarantee facilities or devolvement of Letters of Credit as on date / in the month ended «Month and Year name» We also confirm that there has not been any instance of devolvement of Letter of Credit in the month ended «Month and Year name»

10. We also confirm that there has been no 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.

month ended «Month and Year name» We also confirm that there has not been any instance of devolvement of Letter of Credit in the month ended «Month and Year name» 10. We also confirm that there has been no 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.	month ended «Month and Year name» We also confirm that there has not been any instance of devolvement of Letter of Credit in the month ended «Month and Year name» 10. We also confirm that there has been no 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.	month ended «Month and Year name» We also confirm that there has not been any instance of devolvement of Letter of Credit in the month ended «Month and Year name» 10. We also confirm that there has been no 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.	month ended «Month and Year name» We also confirm that there has not been any instance of devolvement of Letter of Credit in the month ended «Month and Year name» 10. We also confirm that there has been no 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.	month ended «Month and Year name» We also confirm that there has not been any instance of devolvement of Letter of Credit in the month ended «Month and Year name» 10. We also confirm that there has been no 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.	month ended «Month and Year name» We also confirm that there has not been any instance of devolvement of Letter of Credit in the month ended «Month and Year name» 10. We also confirm that there has been no 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.	month ended «Month and Year name» We also confirm that there has not been any instance of devolvement of Letter of Credit in the month ended «Month and Year name» 10. We also confirm that there has been no 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.
11. Details of default in payment of interestiinstallment 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 of Nature of Date of Current Amount to Actual Date of Remarks Lender ohligation Default default he paid Payment (if any) amount Text Term Loan, CC Row 2
name Name of Lender	», in any of Nature of ohligation	the above Date of Default	case (if any): Current default	Amount to he paid	Actual Date of Payment (if any)	Remarks
Text	Term		amount
	Loan, CC
Row 2

~I'". \1... D IeRA

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

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Name oftbe ISIN Amount to Due Date Actual Date Remarks
Instrument be paid of Payment of Payment
NCO
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Thanking You,

Yours faithfully,

~)ICRA

Annexure

Annexure
Rated on Long Term Scale Bank Facility		Amount in RsCr	Rating	Assigned on
State Bank of India		175
Other Banks in Consortium	Fund Based Facilities	175	[ICRA]AA+ (Negative)	20-Apr-20
Total		350
Bank	Facility	Amount in	Rating	Assigned on
		RsCr
Exim Bank	Term Loan	409	[ICRA]AA+ (Negative)	20-Apr-20
State Bank oflndia	Term Loan	178	[ICRA]AA+ (Negative)	20-Apr-20
Unallocated	Term Loan	13	[ICRA]AA+ (Negative)	20-Apr-20
Total		600

Rated on both Long Term and Shorl- Term Scales

Bank	Facility	Amount in RsCr	Rating	Assigned on
Axis Bank		200		20-Apr-20
State bank of India Other Banks (Consorti urn + Unallocated) Total	Fund BasedfNon- Fund Based Facilities	238 212 650	On Long Term Scale - [ICRA]AA+ (Negative) On Short Term Scale - rlCRAlA 1+	20-Apr-20 20-Apr-20