Web Sify
Follow us on
Mail
Print

India's HUDCO plans to raise up to 12.50 bln rupees via tax free bonds - termsheet

Source : REUTERS
Last Updated: Mon, Aug 26, 2013 04:10 hrs

MUMBAI, Aug 26 (Reuters) - India's HUDCO plans to raise up to 12.50 billion rupees ($195.28 million) via private placement of tax free bonds, an indicative termsheet seen by Reuters showed.

The firm will issue 10 year bonds at 8.11 percent, 15-year bonds at 8.56 percent and 20 year bonds at 8.47 percent, the document showed.

The issue is rated AA+ by CARE and India Ratings and the base size of the bond sale is 1 billion rupees, it showed.

The proceeds from the bonds sale will be utilised towards lending purposes, working capital requirements, augmenting the resource base, as per the termsheet.

Book opening and closing for the issue is scheduled on Tuesday. ($1 = 64.0100 rupees) (Reporting by Archana Narayanan; Editing by Anand Basu)




More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance