India’s SREI Infrastructure Finance allots Rs. 3.35 billion debentures

By Angela McDaniels

Tacoma, Wash., Feb. 27 – SREI Infrastructure Finance Ltd. allotted Rs. 3.35 billion of secured redeemable debentures on Monday, according to a letter to the Bombay Stock Exchange.

The company allotted Rs. 653.7 million to institutional investors, Rs. 319.53 million to non-institutional investors and Rs. 2.38 billion to individual investors.

On Jan. 25, the company announced plans for subsidiary SREI Equipment Finance Ltd. to issue up to Rs. 2 billion of secured redeemable debentures in a public offering with an oversubscription option up to the residual shelf limit of Rs. 7.07 billion.

The issuer was offering a coupon of up to 9½% for five-year bonds, 9¼% for three-year bonds and 8½% for 400-day bonds.

The issuer planned to offer an additional coupon of 25 basis points for investors who are existing shareholders or noteholders.

The subscription was scheduled to open Jan. 30 and close Feb. 23.

SREI is a financial services company based in Kolkata, India.

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