Srei Equipment Finance offers up to 10.65% coupon on retail bonds

Kolkata: Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, has launched a public issue of non-convertible debentures to raise up to Rs 500 crore.

The Kolkata-headquartered firm is offering a maximum 10.65% coupon on the bonds with five years maturity while three year bonds carry the highest 10.4% coupon.

Existing bond holders of Srei Equipment and Sre Infrastructure will get an additional incentive of 0.25% over the card rate, the company said.


The issue size includes Rs 400 crore of greenshoe option which allows the company retain over subscription over the base size of Rs 100 crore.

BRICKWORK Ratings India has rated the bonds as "AA" while ACUITE Rating offered "AA-" rating. "Double A" category ratings are considered be investment grade with high degree of safety regarding timely servicing of financial obligations and carry very low risk.