Business Daily from THE HINDU group of publications
Saturday, Jan 24, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Saturday, Jan 24, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Corporate Bonds IIFCL raises Rs 7,370 cr Our Bureau New Delhi, Jan. 23 India Infrastructure Finance Company Ltd has raised Rs 7,369.90 crore through its first tranche of tax-free bonds. These bonds, with term of five years, had coupon of 6.85 per cent payable annually. The bond issue closed on Thursday and had opened on January 19. The interest income from these bonds is tax exempt at the hands of the bondholder so long as their names and the quantum of their holding are registered with IIFCL. The bond offering was for a sum of Rs 2,500 crore, with a greenshoe option. “We have decided to retain the entire amount raised under the first tranche,” an IIFCL official said. Indications are that IIFCL may look at offering the next tranche of such tax free bonds to retail investors. More Stories on : Corporate Bonds | Infrastructure
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