Indian Infrastructure Finance
CORPORATE IIFCL to raise Rs.15 bn via bond issue by Prashant Kapadia/INS Dec 19, 2012 Mumbai : Indian Infrastructure Finance (IIFCL) plans to raise Rs.15bn through a bond issue which will open on December on 26 and close on January 11. IIFCL Chairman and MD S.K Goel said “We plan to raise Rs.15bn with greenshoe option up to the shelf limit of Rs.92.15 bn on first-come first-serve basis. These funds will be utilized to provide long-term funding to PPP projects in the sectors like power and infrastructure,” The bonds have been rated AAA by CARE and ICRA. The minimum amount of application is Rs.5000with a face value of Rs.1000 each. The maximum tenure of the bonds will be 20years. “Investors have an option to invest for 10 years, 15 years and 20years” Goel said. “Retail investors will get 50 basis points higher return compared with other categories like QIB, HNI and corporates ,” Goel said. The bonds carry a coupon rate of 7.69% for 10 years, 7.86 per cent for 15 ye...