Srei to raise up to Rs 1,000 crore via NCDs

Kolkata-based Srei Infrastructure Finance Ltd (Srei) today said it will raise up to Rs 1,000 crore through a public offer of non-convertible debentures (NCDs).

There are three tenures for the issue -- 400 days, 3 years and 5 years. An effective yield of 9.08 per cent is offered for 400 days, coupon of 9.75 per cent on an annual option for 3 years, and 10 per cent on an annual option for 5 years tenure.

The issue is rated BWR AA+ (BWR Double A plus) by Brickwork Ratings India Private Limited.

"The object of the proposed issue is to raise funds for various leading/financing activities to repay the company's existing loans and business operations," Srei said.
 

It will list the NCDs on both NSE and BSE.