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Banking And Finance | November 05, 2014
#45762

Srei Infrastructure raises Rs 332.60 crore from NCD issue

Srei Infrastructure Finance Ltd has raised Rs 332.60 crore through its public issue of secured, redeemable non-convertible debentures (NCDs), with a base issue of Rs 250 crore. The NCDs offered an annualized effective yield of up to 11.75 % p.a. with a credit rating of “CARE AA- (Double A Minus)” by CARE and “BWR AA (BWR Double A)” by Brickwork. Instruments with  such ratings are considered to have high degree of safety regarding timely servicing of financial obligations. J. Moses Harding, Group CEO, liability and treasury management, Srei Infrastructure has said that the over subscription to the NCD issue indicates a growing retail appetite for secure investment products in the country.

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