IIFCL to launch $1 billion infra debt fund

Dec 18 2012, 18:03 IST
Comments 0
IIFCL to launch $1 billion infra debt fund. IIFCL to launch $1 billion infra debt fund.
Summary'We want at least 50 per cent of this fund ($500 million) to come from Foreign Institutional Investors'

which Rs 26,000 crore has been disbursed.

"Our disbursement target for infra projects by March 2013 is Rs 30,000 crore," Goel said.

Meanwhile, the company is also planning to raise Rs 1,500 crore through its tax free bond issue with a green shoe option up to the shelf limit of Rs 9,215 crore on first-come first-serve basis.

The issue will open on December 26 and closes on January 11. Retail investors shall get 50 basis points higher return compared to other categories like QIB, HNI and corporates, Goel said.

For retail investors, the bonds carry a coupon rate of 7.69 per cent for 10 years, 7.86 per cent for 15 years and 7.90 per cent for 20 years.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...