Dear All,
HUDCOs Public Issue of Secured tax-free bonds opened for subscription w.e.f. 09.01.2013. The Public issue of tax free bonds, having benefits under section 10(15)(iv)(h) of the Income Tax Act is for an amount aggregating to Rs. 750 crore with an option to retain an over- subscription up to the Shelf Limit (i.e. Rs. 5,000 crore). The salient features of which are as under: " The Bonds are issued in the form of tax-free, secured, redeemable, non-convertible bonds and the interest on the Bonds will not form part of the total income as per provisions u/s. 10 (15) (iv) (h) of I.T. Act, 1961 " Credit rating agency, CARE has rated the Bonds under this offer as CARE AA+ and India Rating and Research Pvt Ltd (Fitch Group) has rated the Bonds as IND AA+. Instruments with this rating are considered to have the high degree of safety regarding timely servicing of financial obligations. " The Bonds issued by the Company will be secured by a floating first pari passu charge on present and future receivables of the company to the extent of amount mobilized under the issue. The Company reserves the right to create first pari passu charge on present and future receivables for its present and future financial requirements. The Company shall create Debenture Redemption Reserve of 50% of the value of Bonds issued and allotted for the redemption of the Bonds. " The Bonds bear an attractive coupon rate; 7.34% p.a. for 10 Years and 7.51% p.a. for 15 Years for Category I (i.e. Qualified institutional buyers), II (i.e. Corporates), III (High net-worth individuals i.e. investors applying for more than Rs. 10 lacs) & IV Applicants along with Step up Coupon of 0.50% for Retail Investors (i.e. Category IV) investing upto Rs.10 Lakh i.e. 7.84% p.a. for 10 Years and 8.01% p.a. for 15 Years (refer Product note for conditions regarding Step up Coupon rate). The Issue which is already open for subscription from 9th January, 2013 shall close on 22nd January, 2013. Please visit www.hudco.org for further details. Regards, RV Murthy Sr.Managar (Finance) HUDCO, Chennai Regional Office Cell:9443577831 ** Attachment added: "Hudco_Bond_F.jpg" https://bugs.launchpad.net/bugs/577251/+attachment/3484467/+files/Hudco_Bond_F.jpg -- You received this bug notification because you are a member of Ubuntu Bugs, which is subscribed to Ubuntu. https://bugs.launchpad.net/bugs/577251 Title: Problem Loading Page To manage notifications about this bug go to: https://bugs.launchpad.net/ubuntu/+source/firefox/+bug/577251/+subscriptions -- ubuntu-bugs mailing list ubuntu-bugs@lists.ubuntu.com https://lists.ubuntu.com/mailman/listinfo/ubuntu-bugs
