Published on Fri, Feb 03, 2012 at 17:02 | Source : Moneycontrol.com
Updated at Mon, Feb 06, 2012 at 18:08
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IRFC Tax Free Bond issue closes on Feb 3, 2012
The issue of Indian Railway Finance Corporation (IRFC) tax free bond will close on February 3, 2012 which is a week earlier than the scheduled February 10, 2012 after raising money successfully.
The issue of Indian Railway Finance Corporation (IRFC) tax free bond will close today i.e February 3, 2012 which is a week earlier than the scheduled February 10, 2012 after raising money successfully. Subscription to the institutional and high net worth individual (HNI) portion closed on Wednesday, garnering Rs 17,000 crore.
The bonds have been rated ' CRISIL AAA /Stable' by CRISIL, ' [ICRA] AAA ' by ICRA and ' CARE AAA ' by CARE, indicating highest degree of safety for timely servicing of financial obligations.
SBI Capital Markets Limited, A K Capital Services Limited and ICICI Securities Limited are the Lead Managers to the issue. Indian Bank shall be the Trustee to the issue.
The company intends to utilize the Issue proceeds for financing the acquisition of rolling stock and financing the capacity enhancement works in the Indian Railways.
