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Power Finance Corporation - long term infrastructure bonds FebMar2011 |
Power Finance Corporation - long term infrastructure bonds FebMar2011
Opening Date 24 Feb 2011
Closing Date 22 Mar 2011
Tranche 1 - Prospectus
Payment of Interest
Key Information
Power Finance Corporation - long term infrastructure bonds
Public issue of ‘long term infrastructure bonds’ in the nature of unsecured, redeemable, nonconvertible debentures, of face value of ` 5000 each, having benefits under section 80CCF of the Income Tax Act, up to ` 5300 crore in aggregate (subject to not exceeding 25% of the incremental infrastructure investment made by the Company in Fiscal 2010), to be issued at par on the terms contained in the Shelf prospectus.
Face Value - 5000
Issue Price - 5000
Minimum Application - One Bond and in multiples of one Bond thereafter
Ratings - “AAA/Stable” from CRISIL and “LAAA with stable outlook” from ICRA
Lock-In Period Five years from the Deemed Date of Allotment
| Series |
Interest Payment |
Interest Rate |
Maturity Amout Per Bond |
Maturity |
Buy Back Amount |
Buy Back Date |
| 1 |
Annual |
8.30% p.a. |
Rs. 5,000 per Bond and accrued interest calculated from the last interest payment date to the Maturity Date |
One date, being the date falling ten years from the Deemed Date of Allotment. |
Rs. 5,000 per Bond and accrued interest calculated from the last interest payment date to the Buyback Date |
One date, being the date falling five years and one day from the Deemed Date of Allotment |
| 2 |
Cumulative |
8.30% p.a. |
Rs. 11,099 per Bond and interest on Application Interest compounded annually at 8.30% |
One date, being the date falling ten years from the Deemed Date of Allotment. |
Rs. 7,450 per Bond and interest on Application Interest compounded annually at 8.30% |
One date, being the date falling five years and one day from the Deemed Date of Allotment |
| 3 |
Annual |
8.50% p.a. |
Rs. 5,000 per Bond and accrued interest calculated from the last interest payment date to the Maturity Date |
One date, being the date falling fifteen years from the Deemed Date of Allotment. |
Rs. 5,000 per Bond and accrued interest calculated from the last interest payment date to the Buyback Date |
One date, being the date falling seven years and one day from the Deemed Date of Allotment |
| 4 |
Cumulative |
8.50% p.a. |
Rs. 16,999 per Bond and interest on Application Interest compounded annually at 8.50% |
One date, being the date falling fifteen years from the Deemed Date of Allotment. |
Rs. 8,851 per Bond and interest on Application Interest compounded annually at 8.50% |
One date, being the date falling seven years and one day from the Deemed Date of Allotment |
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Power Finance Corporation - long term infrastructure bonds |
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Power Finance Corporation - long term infrastructure bonds
Public issue of ‘long term infrastructure bonds’ in the nature of unsecured, redeemable, nonconvertible
debentures, of face value of ` 5000 each, having benefits under section 80CCF of the
Income Tax Act, up to ` 5300 crore in aggregate (subject to not exceeding 25% of the incremental
infrastructure investment made by the Company in Fiscal 2010), to be issued at par on the terms
contained in the Shelf prospectus.
Face Value - 5000
Issue Price - 5000
Minimum Application - One Bond and in multiples of one Bond thereafter
Ratings - “AAA/Stable” from CRISIL and “LAAA with stable outlook” from ICRA
Lock-In Period Five years from the Deemed Date of Allotment
| Series |
1 |
2 |
3 |
4 |
| Face Value per Bond |
5000 |
5000 |
5000 |
5000 |
| Frequency of interest payment |
Annual |
Cumulative |
Annual |
Cumulative |
| Buyback Facility |
Yes |
Yes |
Yes |
Yes |
Other detail awaited |
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