30 August 2013

Tax Free non-convertible bonds at 8.71%

TAX FREE SECURED REDEEMABLE NON-CONVERTIBLE BONDS
Rural Electrification Corporation Ltd.
Coupon rate - 8.71% per annum*
 

Highlights of the Issue
  • Issue Period: 30th August - 23rd September, 2013
  • Secured, redeemable debentures with tax benefits under Section -10 of The Income Tax Act, 1961.
  • Interest Income on the Debentures is tax-free in nature
     
  • Minimum Subscription: Rs 5000(5 NCDs of face value Rs 1000 each)
  • Rated “CRISIL AAA/Stable" by CRISIL, "CARE AAA" by CARE, "IND AAA" by IRRPL & "[ICRA] AAA" by ICRA respectively
  • Attractive coupon of 8.71% per annum,
  • Who can Apply- Resident Individuals, HUFs, QFIs, NRIs QIBs, Corporates
  • To be listed on BSE
 
Company Profile
  •  Registered as NBFC, REC was incorporated on July 25, 1969 under the Companies Act 1956
  •  Committed to financing & promotion of transmission, distribution & generation of energy projects throughout India
  •  One of the 14 public sector undertakings to be granted NAVRATNA status
  • 66.80% shareholding held by Government of India as on June 30, 2013
  • Total Loan Assets: Rs 127,355.54 crores as on March 31st, 2013
  • Net Worth: Rs 17,454.38 crores as on MArch 31st, 2013
  • Net NPA: .32% as on March 31st, 2013

*8.71% of coupon rate is applicable to Resident Individuals investing under Series 2 of the issue. Please refer to the prospectus for more details.
 
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