Salient Features - Long Term Infrastructure Bonds 2011B Series (Tranche-1):
Issuer | L&T Infrastructure Finance Company Limited | Issue of Tranche 1 Bonds | Public issue of long term infrastructure bonds of face value of Rs. 1,000each, in the nature of secured, redeemable, non-convertible debentures, having benefits under section 80CCF of the Income Tax act, 1961, not exceeding Rs. 11,000.0 million for the FY 2012, to be issued at par on the terms contained in the Shelf Prospectus and the Prospectus - Tranche 1. | Issue opening date | Friday, November 25, 2011 | Issue closing date | Saturday, December 24, 2011* (Issue Details) | Rating | "(ICRA)AA+" from ICRA and "CARE AA+" from CARE | Tax Benefits | The investment up to Rs 20,000 made will be eligible for tax benefits in the year of investment under Section 80 CCF of the Income Tax Act, 1961 | Who can apply? | Indian nationals resident in India *(Issue Details) Hindu Undivided Families or HUFs, in the individual name of the Karta. | Minimum application | 5 Tranche 1 Bonds and in multiples of 1 Tranche 1 Bond thereafter.(5 Tranche 1 Bonds, across the same series or different series) | Lock-in period | 5 years from the deemed date of allotment | Trading | Dematerialized form only following expiry of Lock-in Period | Redemption /Maturity Date | 10 years from the Deemed Date of Allotment | Buyback date | Available on the first Working Day after the expiry of 5 years from the Deemed Date of Allotment or on the first Working Day after the expiry of 7 years from the Deemed Date of Allotment, as the case may be. | Specific terms for each series of Tranche 1 Bonds
Series | 1 | 2 | Frequency of Interest payment | Annual | Cumulative | Face value per Tranche 1 Bond | Rs. 1,000 | Rs. 1,000 | Interest Rate | 9.00% p.a. | 9.00% p.a. compounded annually | Buy-back amount | Rs. 1,000/- at the end of 5 years/ Rs. 1,000/- at the end of 7 years | Rs. 1,538.62/- at the end of 5 years/ Rs. 1,828.04/- at the end of 7 years | Maturity Date | 10 years from the Deemed Date of Allotment | 10 years from the Deemed Date of Allotment | Maturity Amount | Rs. 1,000/- | Rs. 2,367.36/- | Yield on maturity | 9.00 % | 9.00% compounded annually | Yield on Buyback | 9.00 % | 9.00% compounded annually | |
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