SREI Infrastructure Finance has announced a public issue of tax-saving infrastructure bonds with a face value of Rs. 1000 each to be issued in one or more tranches not exceeding Rs. 500 crore for the fiscal 2011-12..Khaitan advised SREI with a team led by Partner N.G. Khaitan..The first tranche of the bonds opened for subscription on December 31, 2011 and will close on January 31, 2012 or earlier, as may be decided by the board of the company. SREI is looking to raise up to Rs. 300 crore in the Tranche – I issue..This is the first public issue by SREI after its Initial Public Offering in 1992..According to LiveMint, there are four series to choose from. Series I and II come with a coupon of 8.90 percent and a maturity of 10 years and series III and IV come with a coupon of 9.15 percent and a maturity of 15 years. Bonds for both maturities have a lock-in period of five years after which listing has been proposed on BSE Ltd..Like other infrastructure bond, investments in these will provide a deduction of up to Rs. 20,000 under section 80CCF..SREI Infrastructure Finance has been in the business of project and equipment financing for the infrastructure sector for over two decades.
SREI Infrastructure Finance has announced a public issue of tax-saving infrastructure bonds with a face value of Rs. 1000 each to be issued in one or more tranches not exceeding Rs. 500 crore for the fiscal 2011-12..Khaitan advised SREI with a team led by Partner N.G. Khaitan..The first tranche of the bonds opened for subscription on December 31, 2011 and will close on January 31, 2012 or earlier, as may be decided by the board of the company. SREI is looking to raise up to Rs. 300 crore in the Tranche – I issue..This is the first public issue by SREI after its Initial Public Offering in 1992..According to LiveMint, there are four series to choose from. Series I and II come with a coupon of 8.90 percent and a maturity of 10 years and series III and IV come with a coupon of 9.15 percent and a maturity of 15 years. Bonds for both maturities have a lock-in period of five years after which listing has been proposed on BSE Ltd..Like other infrastructure bond, investments in these will provide a deduction of up to Rs. 20,000 under section 80CCF..SREI Infrastructure Finance has been in the business of project and equipment financing for the infrastructure sector for over two decades.