SREI Infrastructure Finance company – NCD Issue – Sept 2014:
SREI – Infrastructure Finance company -IFC Status – manages assets of more than 30,000 crore have come up with an NCD issue.
This issue will open on Sept 29 and will close on Oct 31, 2014.
Issue offers max interest of 11.75% for period of 60 months.
Security : Security cover will be provided by company through debenture trustees.
Interest Rate Structure:
coupon rate structure for Retail,Individual investors is as follows:
| Series | Tenure | Coupon Rate for Retail Investors % per annum |
Interest Payment frequency |
|---|---|---|---|
| I | 2 YRS |
11.25 | Annual |
| II | 2 YRS |
11.25 | Cumulative |
| III | 2 YRS |
11.50 | Monthly |
| IV | 3 YRS |
11.50 | Annual |
| V | 3 YRS |
11.51 | Cumulative |
| VI | 3 YRS |
11.75 | Monthly |
| VII | 5 YRS |
11.75 | Annual |
| VIII | 5 YRS |
11.75 | Cumulative |
Credit Rating:
AA- by CARE and AA by Brickwork.Both indicates stable issue.
0.25% Extra for Existing NCD investors/Equity Shareholders /Sr.citizen:
Additional coupon of 0.25% p.a. for existing bondholders and/or equity shareholders of the company and/or senior citizens for Individual Category of investors on Deemed Date of Allotment.
So overall AA – issue offering 11.75% rate can be a good bet.But investors need to aware about credit risks and then invest small amount from fixed income portfolio.
full details