Page 305 - Tata_Chemicals_yearly-reports-2021-22

01 INTEGRATED 73 STATUTORY 178 FINANCIAL
REPORTS
REPORT
STATEMENTS
Consolidated

(iii) Secured term loan owed by Tata Chemicals North America (‘TCNA’) Group:
The Term Loan is secured by a first-priority interest in the TCNA’s 75% interest in TCSAPH, the TCNA’s assets, and equity interest
in foreign subsidiaries. As at March 31, 2022, the debt outstanding is ` 2,084.29 crore (USD 275.00 million) (2021: ` 2,010.52 crore
(USD 275 million)) of which an amount of ` 208.43 crore (USD 27.5 million) (2021: ` Nil (USD Nil)) is disclosed within the heading
current maturity of non-current borrowings). The Term Loan is amortised in installments beginning December 19, 2022 and
concluding June 19, 2025.
The borrowing under this facility bears interest at either LIBOR plus an applicable margin or a fallback rate based upon (a) if
no LIBO Rate is available for the relevant Interest Period, the Reference Bank Rate as of the Specified Time before the date of
that Borrowing and for a period equal in length to the Interest Period of that Borrowing, or (b) if neither the LIBO Rate nor a
Reference Bank Rate is available for the relevant Interest Period, the Cost of Funds shall apply to that Borrowing for that Interest
Period. The applicable margin on the Term Loan is 1.6% per annum on LIBOR borrowings.
(iv) Secured term loan owed by Valley Holdings Inc. (‘VHI’):
The Term Loan is secured by a security interest in VHI’s interest in TCNA, TCSAPH, the TCNA’s assets, and equity interest in foreign
subsidiaries. As at March 31, 2022, the debt outstanding is ` 757.93 crore (USD 100.00 million) (2021: ` Nil (USD Nil)). The Term
Loan is due in full on December 17, 2026.
The borrowing under this facility bears interest at LIBOR plus an applicable margin. The applicable margin on the Term Loan is
1.4% per annum on LIBOR borrowings.
(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, 2022 is ` 0.10 crore (2021: ` 0.25 crore) of which ` 0.10 crore (2021: ` 0.15 crore) has been
disclosed within the heading current maturity of long term debt . Rate of interest on this loan is 2% per annum.
(c) (i) Debt owed by Homefield Pvt UK Limited:
Term Loan amounts outstanding were ` 344.86 crore (2021: ` 332.65 crore) (USD 45.50 million (2021: USD 45.50 Million). The
loan is repayable in full in December 2026. ` Nil (2021: ` 340.49) has been disclosed within the heading current maturities of
non-current borrowings . Interest on this loan is payable based on SOFR plus Credit Spread Adjustment plus a margin of 1.25%
per annum).

(ii) Debt owed by Homefield Pvt UK Limited:
Term Loan amount outstanding is ` 216.01 crore (2021: ` 208.36 crore) (USD 28.50 Million (2021: USD 28.50 Million). This loan
repayable in full in March 2023. ` 216.01 (2021: ` Nil) has been disclosed within the heading current maturities of non-current
borrowings. Interest on this loan is payable based on USD LIBOR plus a margin of 1.15% per annum.

(iii) 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, 2022 is ` 3.00 crore (2021: ` 6.00 crore) of which ` 3.00 crore (2021:
` 3.00 crore) has been grouped within current maturities of non-current borrowings , which are payable in next 12 months.
Effective interest rate for this loan is 7.35% per annum to 8.35% per annum.
(iv) Debt owed by Tata Chemicals Magadi Limited (‘TCML’):
The outstanding loan as at March 31, 2022 is ` 272.85 crore (USD 36 million) (2021: ` 350.94 crore (USD 48 million)) of which `
Nil (2021: 116.98 crore) (USD Nil (2021: USD 16 million)) has been grouped within current maturities of non-current borrowings.
The loan is repayable in installments commencing July 2024 and ending July 2026. Interest on this loan is payable, every six
months i.e. in July and January, based on 6 months USD LIBOR plus a margin of 1.80% per annum.
(v) Debt owed by Tata Chemicals International Pte. Limited (‘TCIPL’):
The outstanding loan as at March 31, 2022 is ` 1,515.85 crore (2021: ` 1,462.20 crore) (USD 200 million (2021: USD 200 million))
of which ` 1,515.85 crore (2021: ` Nil ) ((USD 200 million (2021: USD Nil) has been grouped within current maturities of non-
current borrowings . The loan bear an effective interest rate of 3.86% (2021: 3.81%). The loan is repayable in full on December
12, 2022.

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