Fw: L&T Infra Bond - Opening date 25 November 2011

 

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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