Page 280 - Tata_Chemicals_yearly-reports-2019-20

the borrowing under this facility bears interest at either lIBor plus applicable margin or an alternate base rate based upon
the greatest of (a) the prime rate in effect on such day, (b) the Federal Funds effective rate in effect on such day plus 1/2 of 1%
and (c) the adjusted lIBor for a one month Interest period on such day plus 1%. the applicable margin on the term loan and
revolver is 2.75% per annum on lIBor borrowings and 1.75% per annum on alternate base rate loans.
(iv) Secured term loans owed by rallis India limited (‘rallis’):
the other term loan is secured by a first charge on entire movable fixed assets and agricultural property funded by the bank.
the balance outstanding as at March 31, 2020 is ` nil (2019: ` 1.00 crore) (of which ` nil (2019: ` 0.50 crore) has been disclosed
in note 20 within the heading current maturity of non-current borrowings under other financial liabilities (current)). the rate of
interest on this loan is 7.50% per annum.
(b) Debt owed by Rallis:
term loan from Biotechnology Industry partnership project is secured by hypothecation of all equipment, apparatus machineries,
machineries spares, tools and other accessories, goods and/or the other movable property of rallis, present and future to a value
equivalent to the amount of loan and interest thereon and the royalty payable on grant-in-aid till the full and final settlement of
all dues. the balance payable as on March 31, 2020 is ` 0.27 crore (2019: ` 0.72 crore) of which ` nil (2019: ` 0.25 crore) has been
disclosed in note 20 within the heading current maturity of long term debt under other financial liabilities (current). rate of interest
on this loan is 2% per annum.

(c) unsecured redeemable non-convertible debentures having face value of ` 10 lakhs each amounting to ` nil (2019: ` 250.00 crore)
were redeemable at par on July 2, 2019 and bears interest rate of 10% per annum. ` nil (2019: ` 250.00 crore) has been disclosed in
note 20 within the heading current maturity of long term debt under other financial liabilities (current).
(d) (i) the external Commercial Borrowings (‘eCB’) ` nil (2019: ` 438.85 crore) (uSd nil (2019: uSd 63.46 million) were due for repayment
during october 2019 and bear interest of lIBor plus spread of 1.95% semi-annually. Current portion due for repayment within
one year ` nil (2019: ` 438.85 crore). this amount has been disclosed in note 20 within the heading current maturities of non
current borrowings under other financial liabilities (current).
(ii) debt owed by Homefield pvt uK limited:
term loan uSd 45 Million: the amounts outstanding were ` 340.49 crore (2019: ` 311.20 crore). the loan is repayable on or after
March 2020 but not later than october 2020 and has been disclosed in note 20 within the heading ‘current maturities of non-
current borrowings’ under other financial liabilities (current). Interest on this loan is payable based on uSd lIBor plus a margin
of 1.50% per annum.
(iii) debt owed by Homefield pvt uK limited:
term loan uSd 28.50 Million: the amount outstanding is ` 215.65 crore for the year ended March 31, 2020 (2019: ` 197.09
crore). this loan repayable in full in March 2023. Interest on this loan is payable based on uSd lIBor plus a margin of 1.15% per
annum.

(iv) debt owed by rallis:
loan of ` 15.00 crore is repayable in quarterly installments. the repayment began after a moratorium of 24 months from
February 2018. the balance outstanding as at March 31, 2020 is ` 9.45 crore (2019: ` 12.00 crore) of which ` 3.00 crore (2019:
` 3.00 crore) has been grouped in note 20 within current maturities of non-current borrowings under other financial liabilities
(current), which are payable in next 12 months.
(v) debt owed by tata Chemicals Magadi limited (‘tCMl’):
the outstanding loan as at the year end is ` 363.19 crore (uSd 48 million) (2019: ` 331.94 crore (uSd 48 million)). the loan is
repayable in instalments commencing July 2021 and ending January 2024. Interest on this loan is payable, every six months i.e.
in January and July, based on 6 months uSd lIBor plus a margin of 1.80% per annum.

278 I Integrated annual report 2019-20