# Avaada Ventures to raise Rs 3,515 cr via NCDs; $398 mn through ECB for debt refinancing — retained record

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source: [news](https://highsignal.app/data/news) (news:india-et-markets)  published 2026-09-16 01:22 ingested 2026-09-16 02:56

[original source ↗](https://economictimes.indiatimes.com/markets/stocks/news/avaada-ventures-to-raise-3515-crore-via-ncds-and-398-million-ecb-for-debt-refinancing/articleshow/134275906.cms)

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The NCD will have two components and end roughly in three years. The company will raise ₹3,240 crore through Series A debentures and another ₹275 crore through Series B debentures. Both series carry a fixed coupon of 11.75%.
The NCD issue is scheduled to open and close on September 17.
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Proceeds from both the NCDs and the proposed ECB will be used to refinance existing liabilities. The proceeds of the debt will be used to pay Brookfield investment $685 million, $80 million to retire outstanding CP at AVPL and the balance towards transaction expenses, according to an India Ratings report.
Brookfield, through its Global Energy Transition Fund, had committed $1 billion to AVPL in 2023 and has infused $400 million through OCDs as of March 31, 2026 and the balance commitment will come under a new structure and specific end-use requirements under discussion. The OCDs have a tenor of over eight years through FY32, with no annual coupon payouts and redemption triggered only by an event of default or liquidity event.
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A company spokesperson did not immediately respond to a request for comment.
The ECB facility, which is proposed to be senior and secured, can be raised in one or more tranches, sources said adding that $398 million with banks including Barclays Bank, DBS Bank and other potential lenders.
Avaada had earlier obtained shareholder approval to issue up to ₹4,600 crore of NCDs. Avaada is required to complete a monetisation event within 18 months of execution of the debenture trust deed.
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