Power Finance Corporation launched Infrastructure Bonds:

Power Finance corporation launched secured ,Reedemable ,NCD form Infrastructure Bonds today.PFC is expecting to raise Rs.5300 Crore through its infra bonds.

Issue opens for subscription on Feb 24 and closes on march.22.

The Bonds may issued in one or more treanches.

The bond issue is under section 80ccf of the income tax act ,whwrein an investor can avail a deduction of upto Rs.20000/-in the taxable income for the current financial year.

The company will offer bonds in four different series.SeriesI nad SeriesII are 10 yrs bonds offerering 8.30% with lock in period of 5 yrs.Whereas series3 and 4 are 15 yrsbonds offering 8.50% comes with a 7yr lock in period.

In series 1 and 2,interest will be paid anually while series 3 and 4 offers cumulative options.

The bonds are tradable at BSE and NSE after competion of lock in period.They can be hold in Physical form also