Indian Railway Finance files bonds papers with SEBI

Indian Railway Finance Corporation (IRFC) has filed draft red herring prospectus with SEBI for issue of tax free secured redeemable non-convertible bonds in the nature of debentures of face value of Rs 1,000 each. The company aims to raise Rs 10,000 crore through the issue, at par in one or more tranches in the fiscal 2014.

Rating agencies CRISIL, CARE and ICRA re-affirmed the credit rating of AAA for the debt program of the company.

Also Read: Shriram City files draft prospectus for NCD issue

The bonds are proposed to be listed on NSE and BSE within 12 working days of the issue closing date. However NSE is the designated stock exchange for the Issue.

The funds raised through this Issue will be utilised towards financing the acquisition of rolling stock which will be leased to the MoR in line with present business activities.

Karvy Computershare Private Limited is the registrar to the issue while SBI Capital Markets Limited, A K Capital Services Limited, Axis Capital Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited are lead Managers.

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