LT Infrastructure Finance to issue tax-saving infrastructure bonds

LT Infrastructure Finance Company is making a public issue of Long Term Infrastructure Bonds 2011, to finance infrastructure lending.

The company proposes to issue secured redeemable non-convertible debentures aggregating up to Rs 100 crore with an option to retain an oversubscription of up to Rs 300 crore for allotment of additional bonds.

The bonds having benefits under Section 80CCF of the Income Tax Act, 1961, will open for subscription on February 7, 2011, and close on March 7, 2011.

The bonds have been rated as "Care AA+." by CARE and ''LAA+'' by ICRA, indicating high safety for timely servicing of debt obligations with high credit quality and low credit risk.

The bonds will carry a minimum lock-in period of five years from the date of allotment and can be redeemed after 10 years from the date of allotment.

The issue is proposed to be listed on the National Stock Exchange of India Limited (NSE).
More: http://in.news.yahoo.com/l-t-infra-finance-issue-tax-saving-infrastructure-20110203-045900-785.html