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HUDCO plans to raise up to 12.50 bn rupees via tax free bonds

The issue is rated AA+ by CARE and India Ratings and the base size of the bond sale is 1 billion rupees,it showed.

Written by Reuters | Mumbai | Published: August 26, 2013 9:55:13 am

HUDCO plans to raise up to 12.50 billion rupees ($195.28 million) via private placement of tax free bonds,an indicative termsheet seen by Reuters showed.

The firm will issue 10 year bonds at 8.11 per cent,15-year bonds at 8.56 per cent and 20 year bonds at 8.47 per cent,the document showed.

The issue is rated AA+ by CARE and India Ratings and the base size of the bond sale is 1 billion rupees,it showed.

The proceeds from the bonds sale will be utilised towards lending purposes,working capital requirements,augmenting the resource base,as per the termsheet.

Book opening and closing for the issue is scheduled on Tuesday.

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