L&T Infrastructure Finance Company is making a public issue of Long Term Infrastructure Bonds 2011,to finance infrastructure lending. The company proposes to issue secured redeemable non-convertible debentures aggregating up to Rs 100 crore with an option to retain an oversubscription of up to Rs 300 crore for allotment of additional bonds. The bonds having benefits under Section 80CCF of the Income Tax Act,1961,will open for subscription on February 7,2011,and close on March 7,2011. The bonds have been rated as "Care AA+." by CARE and 'LAA+' by ICRA,indicating high safety for timely servicing of debt obligations with high credit quality and low credit risk. The bonds will carry a minimum lock-in period of five years from the date of allotment and can be redeemed after 10 years from the date of allotment. The issue is proposed to be listed on the National Stock Exchange of India Limited (NSE). L&T Infrastructure Finance Company Limited was incorporated in 2006. The total income of the company for six months ended September 30,2010 and fiscal year 2010 was Rs 309 crore and Rs 450 crore,respectively. The total loans and advances outstanding of the company as at September 30,2010 were Rs 5,272.98 crore and total disbursements for the six months ended September 30,2010 and Fiscal Year 2010 were Rs 1,751.83 crore and Rs 3,795.51 crore,respectively.
