This Site Content Administered by
FINANCE

Power Finance Corporation limited issue Tax free Bonds


Mumbai: December 13,2012

Power Finance Corporation Limited (PFC) is launching its Tranche-1 public issue of tax free Bonds of face value of Rs. 1000 each in the nature of secured, redeemable, Non convertible debentures having tax benefits under section 10 (15) (iv)(h) of the income tax Act 1961, as amended aggregating Rs.1000 crore with an option to retain an oversubscription of up to the Shelf Limit of Rs. 4590 crores. The issue shall open on December 14,2012 and closed on December21,2012

                     

The bonds have been assigned a credit rating of “ ICRA AAA” by ICRA and “CRISIL AAA/ Stable by CRISIL , indicating highest degree of safety regarding timely servicing of financial obligations and carrying lowest credit risk.

                                                                          

The two bond series viz. 1) Redeemable after 10 years and series 2) Redeemable after years from the deemed date of allotment. The Bonds carry a coupon rate of 7.69% pa for 10years and 7.86% p.a. for 15 years for retail investors.  Coupon rates of 7.19 % p.a. for 10 year Bonds and 7.36% p.a. for 15 years Bonds are applicable all other category of investors. The Bonds are proposed to be listed on BSE limited.

                                                                                        

The bonds shall be issued in both physical as well as in dematerialized form, at the option of the Applicants.

The company intends to utilize the issue proceeds for lending purposes, debt servicing and working capital requirements and not for any specified project.

 

                                           ******

BG/ SA

 
PIB Release/MH/261
BG --

Click here to download high quality photo

    Click here to download high quality photo

more photos ....
MEDIA UNITS

PIB MAIN SITE (DELHI)

DD NEWS

AIR NEWS

D A V P

R N I

D F F

GOVERNMENT LINKS

PRESIDENT

PRIME MINISTER

CENTRAL GOVERNMENT

MAHA. GOVERNMENT

MAHARASHTRA MEDIA

MEDIA LIST

NEWSPAPERS

TELEVISION MEDIA

MEDIA REGULATION

CABLE REGULATION

CONTENT CODE

ADVERTISING CODE

PROGRAMMING CODE

JOURNALIST CORNER

JOURNALISM BASICS

INDIAN SCHOOLS

INT.SCHOOLS

PIB LIBRARY

OTHER LINKS

INDIAN AIRLINES

INDIAN RAILWAYS

BUSES


This Site Content Administered by : Manish Desai, Director (M&C),
Press Information Bureau, Mumbai
Site is designed and hosted by National Informatics Centre (NIC)
Information is provided and updated by :Press Information Bureau