[Bug 577251] HUDCO-Tax Free Bonds: Issue from 09.01.2013 to 22.01.2013

[RVMURTHY]

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

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