VIL board approves issuing of Rs 1,600 cr debentures to ATC

NEW DELHI: Vodafone Idea Limited (VIL) board on Friday approved issuing of Rs 1,600 crore debentures to ATC Telecom Infrastructure. The debt-laden telecom operator, in an exchange filing, said its board approved issuance of up to 16,00 crore rupee-denominated optionally convertible, unsecured, unrated and unlisted debentures having a face value of Rs 10,00,000 each. The debentures will be issued in one or more tranches on a preferential basis, and the funds raised will be used to pay amounts owed to ATC.