The company aims to raise Rs 3,750 crore through this issue.
NHB is also allowed to raise funds through private placement route in one or more tranches not exceeding Rs 1,250 crore i.e. up to 25 percent of the allocated limit of Rs 5,000 crore for raising funds through tax free bonds during fiscal 2012-13.
The company operates as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions.
Bids can be made for minimum one bond and in multiples of 1 bond thereafter. The issue will close on March 15, 2013.
Coupon rate for retail investors and HUFs (who apply for bonds aggregating upto and including Rs 10 lakh) is 7.32 percent while for other investors the coupon rate is 6.82 percent.
Interest will be paid annually. The redemption of bonds will take place after 10 years from deemed date of allotment.
The rating agencies CRISIL and CARE assigned AAA rating to the issue.
The bonds are proposed to be listed on the National Stock Exchange.
Kotak Mahindra Capital Company Limited, Axis Capita Limited, ICICI Securities Limited and SBI Capital Markets Limited are the lead manager to the issue.
No comments:
Post a Comment