SEFL to raise Rs. 1,000 cr through public issue of unsecured redeemable NCDs
New Delhi [India], July 12 (ANI): Srei Equipment Finance Limited (SEFL) has announced proposing of public issue of unsecured, subordinated, redeemable non-convertible debentures, eligible for inclusion as Tier II Capital, (NCDs) of face value Rs. 1,000 each amounting up to Rs. 500 crore (Base Issue Size) with an option to retain oversubscription up to additional Rs. 500 crore.
ANI
Jul 12, 2017 18:38 IST
New Delhi [India], July 12 (ANI): Srei Equipment Finance Limited (SEFL) has announced proposing of public issue of unsecured, subordinated, redeemable non-convertible debentures, eligible for inclusion as Tier II Capital, (NCDs) of face value Rs. 1,000 each amounting up to Rs. 500 crore (Base Issue Size) with an option to retain oversubscription up to additional Rs. 500 crore. India's leading construction and mining equipment financier, SEFL will open its issue on July 17, and will close on July 31, with an option of early closure. The NCDs offer an annualised coupon of up to 9.55 percent per annum. Holding credit ratings of "BWR AA+" (BWR Double A Plus) (Outlook: Stable) by BRICKWORK and "SMERA AA+" (SMERA Double A Plus) (Outlook: Stable) by SMERA, it is considered to have a high degree of safety regarding timely servicing of financial obligations. The issue is proposed to be listed on the BSE and NSE. "SEFL has successfully established itself as one of the market leader in financing construction and mining equipment in the country. Our key strength is our ability to offer holistic asset life cycle solutions to our customers as per their needs. This sets us apart as the preferred financier of the construction and mining equipment industry," said CEO SEFL, Devendra Kumar Vyas. "NCDs have been gaining popularity in the investment portfolio of retail investors. With annualised coupon of up to 9.55 percent per annum, SEFL NCDs offer returns for retail investors compared to similar investment products. The proposed issue will also help expand our investor base and diversify our funding source," added Kumar. (ANI)
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