L&T Infrastructure Finance Company Limited has come up with section 80 CCF long term infrastructure bonds for the second time in the FY 2011 – 2012. The issue is termed as “L&T Infra 2012A Bond Series”. The issue starts from 10th January and closes on 11th February 2012. Credit rating is same as the earlier issue a month back. But the interest rate is little less than tranche1 bonds issue.
L&T Infrastructure Bonds
Issue Facts:
Face Value: Rs 1000
Minimum Subscription: 5 Bonds i.e. Rs 5000
Listing: BSE
Depositories: CDSL, NSDL
Bonds issuance: Physical mode as well as Demat mode
Registrar: Sharepro Services (India) Private Limited.
Credit Rating: CARE AA+, ICRA AA+
Debenture Trustee: Bank of Maharashtra
Type of bonds: Unsecured, redeemable and non-convertible.
Open Date: January 10th 2012
Close Date: February 11th 2012
The issue has got 2 series. The below table provides you the details.
| Series | Series – 1 | Series – 2 |
| Interest Rate | 8.7% | 8.7% |
| Buy Back Facility? | Yes | Yes |
| Buy Back Date | First working day after 5 Years and After 7 years | First working day after 5 Years and After 7 years |
| Maturity period | 10 Years | 10 Years |
| Interest Frequency | Annual | At the time of buy back/maturity |
| Redemption Amount (if you stay invested till maturity) | Rs 1000 | Rs 2303.01 |
| Buy Back Amount (after 5 years, if you exercise) | Rs 1000 | Rs 1517.57 |
| Buy Back Amount (after 7 years, if you exercise) | Rs 1000 | Rs 1793.11 |
Please refer to http://lastbull.com/infrastructure-bonds-fy-2011-%E2%80%93-2012/ for the list of infrastructure bonds for the current financial year.
Brief Description about the Company:
L&T Infrastructure Finance Limited is an NBFC jointly promoted by L&T & L&T Finance Holdings Ltd. It has been founded in 2006. Its main focus areas are
Power, roads, telecom, oil & gas and ports.
Net worth as on March 31st, 2011 is Rs12348.94 million
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Sathish Emmadi
Sathish Emmadi is a co-founder & editor at Lastbull.com. He is presently working in IT for one of the world’s top mutual fund companies. Handled multiple projects in BFSI (Banking,Financial Services and Insurance) domain. An Engineering Graduate from NITW.
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