Friday, January 14, 2011

REC Long Term Infrastructure Bonds Issue - Januray 2011

The REC Long Term Infrastructure Bonds Issue is  opening today i.e., 12th January 2011 and will be closing on 31st March 2011. 

Below are the Issue Highlights:
Issuer Rural Electrification Corporation Limited (“the Issuer”)
Offering
100000 Unsecured, Redeemable, Non-Convertible, Taxable Bonds of Rs. 5,000/- each aggregating to Rs. 50 Crore with a green-shoe option to retain over-subscription for issuance of additional Infrastructure Bonds
Type Private Placement basis
Instrument Unsecured, Redeemable, Non-Convertible, Taxable Bonds having benefits under section 80CCF of the Income Tax, 1961 for long term Infrastructure Bonds
Rating ‘AAA /Stable’ by CRISIL, ‘CARE AAA’ by CARE ,’LAAA’ by ICRA, ‘AAA(IND) by Fitch
Eligible Investors Resident Indian Individual (Major) and HUF through Karta of the HUF
Security Unsecured
Face Value Rs. 5,000/- per bond
Issue Price At par (Rs. 5,000/- per bond)
Minimum Subscription 2 Bonds of Rs. 5,000/- each and in multiples of 1 Bond thereafter,
Tenure 10 years, with or without buyback option after five years
Options for Subscription The Bonds are proposed to provide the following options-
Option I - Annual Coupon and Buyback after 5 years
Option II - Annual Coupon and No Buyback Option
Redemption/Maturity At par at the end of 10th year from the deemed date of allotment.
Coupon rate Option I (Annual Coupon and Buyback after 5 years) – 8.00% p.a.
Option II (Annual Coupon and No Buyback) – 8.1 % p.a.
Listing Proposed to be listed on BSE/NSE or Both
Trustee IDBI Trusteeship Services Limited
Depository National Securities Depository Ltd. and Central Depository Services (India) Ltd.
Registrars Beetal Financial & Computer Services (P) Ltd.
Mode of Payment Interest payment will be made through ECS/At Par Cheques/Demand Drafts
Issuance Demat and Physical Form
Trading Demat mode only
Issue Open Date January 12 ,2011
Issue Close Date March 28, 2011 .
There is  an option to issuer would have pre-close the issue by giving 1 day notice to the Arrangers
Deemed Date of Allotment 31st March, 2011
Annual Interest Payment and interest on Application money The first annual interest shall be paid on 31 March 2012.Interest on application money at the prescribed rate from the date of credit in REC Bank Account to the date of allotment shall be paid with first annual interest payment

   
For Corporate Bookings of Infra Bonds in Delhi - NCR Region Call @ 0-9910009312
For more information write to us at info@safeinvestindia.com

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