PTC India Financial Services Ltd. (PFS) has launched infrastructure bonds in the name as PFS Long Term Infrastructure Bond – Series 2, u/s 80CCF of face value of Rs. 5000 each.
Issue Opens: December 30, 2011
Issue Closes:February 29, 2012
Mode: Private Placement
Size of the issue: 1,00,000 Secured, Redeemable, Non-Convertible Long Term Infrastructure Bonds of Sr-2 of Rs. 5,000/- each aggregating to Rs. 50 Crore (Rupee Fifty Crore only) with a green-shoe option to retain over-subscription for issuance of additional Infrastructure Bonds Sr-2.
Options:
| Option | I | II | III | IV |
| Frequency | Annual | Cumulative | Annual | Cumulative |
| Face Value | 5,000/- | 5,000/- | 5,000/- | 5,000/- |
| Minimum Application | 1 Bond | 1 Bond | 1 Bond | 1 Bond |
| Tenor | 10 Years | 10 Years | 15 years | 15 years |
| Coupon | 8.93% p.a. | 8.93% p.a. | 9.15% | 9.15% |
| Buyback Option | After 5 Years | After 5 Years | After 7 Years | After 7 Years |
Credit Rating:
- “BWR AA” (Stable outlook) by Brickwork Ratings India Pvt Ltd,
- “CARE A+” by Credit Analysis & Research Ltd &
- “ICRA A+” (Stable outlook) by ICRA Limited
Registrar & Transfer Agent: Karvy Computershare Private Limited
Investologic Review:
- The interest rate offered is decent enough compared to the current IDFC infra bond issue.
- Credit rating also looks good. But the concern is the small issue size of 50 crores.
You can get in tough with Harish for SREI Infra Bonds Forms. Email id – harish@investologic.com or call him on +91 9920328954
