The Hindu Business Line : IIFCL to issue more tax-free bonds this month

New Delhi, Feb. 9 India Infrastructure Finance Company Ltd (IIFCL) plans to raise about Rs 2,370 crore through tax-free bonds, to be issued this month under the private placement route. This is the second tranche of tax-free bonds.

The company had recently raised Rs 7,370 crore through tax-free bonds.

Under the offering, the bonds had coupon of 6.85 per cent payable annually and a term of five years. In the stimulus package, the Centre had allowed IIFCL to issue tax-free bonds of Rs 10,000 crore this fiscal.

“We are looking to issue the remaining Rs 2,370 crore this month itself. It would be done through the private placement route. We will also discuss with merchant bankers to see if the bonds could be offered at smaller ticket sizes than before,” Mr S.S. Kohli, Chairman & Managing Director, IIFCL, told reporters on the sidelines of PHDCCI meeting on banking industry.

IIFCL has now been categorised as a public financial institution under the Companies Act.

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