SREI Equipment finance – issue of Secured non-convertible debentures – NCDs will open on April 09,2015.This issue offers different options like – Monthly interest,Annual interest and Cumulative.SREI Infracture is looking to raise Rs.500 crore through this issue.
More details of SREI Equipment finance NCD issue are as follows:
Imp Dates:
- Issue Open Date: April 09, 2015
- Issue Close Date: April 30, 2015.
About SREI Equipment Finance:
SREI infrastructure finance is Joint venture company between SREI Infrastructure finance – India’s only infrastructure finance NBFC and BNP Paribas – the largest leasing group of Europe having presence in 15 countries.
SREI Equipment finance is engaged in business services like – Equipment & Logistic Solutions,Technology Solutions, Healthcare Equipments,Agricultural Equipment Financing.
- Credit Rating: CARE AA and BWR AA indicates stable issue.
- Minimum application amount : Rs.10,000/-
- NCD listing : At NSE and BSE.NCD holder can sell NCD through secondary market at market yield.
Monthly Interest Payment Option:
As name indicates,interest will paid monthly.
Annual Interest Option:
Interest will paid annually on allotment date each year.
Cumulative Interest Option:
Principle and interest payable at maturity on cumulative basis.
Currently we are in trending down interest rate scenario.Most of the banks have already lowered their interest rates up to 8.50%.We can see good demand in debt market for issues offering fixed interest rates which may be in the range of 10-11%.Credit rating of this issue can be considered as good and invest some part in this issue.
