Raymond LTD will issue NCD to RCCL for up to an amount of 2200 crores (same as the net amount RCCL will receive from Godrej on account of sale of FMCG brands. They claim it is for repaying external debt but the interest on NCD is at 9%
Just trying to understand the advantage in this. Is the external debt being serviced at a rate higher than 9%?
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