Friday, January 14, 2011

REC LONG TERM INFRASTRUCTURE BONDS January 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

 
    To Apply write to us at info@safeinvestindia.com
     Please mention your complete address along with PIN number and phone numbers.

1 comment:

Eshop @ Navneet said...

For Investing in All Infrastructure Bonds - Contact - Amit Surpuriya - 9850873688 - Pune

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