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India’s Srei Infrastructure to open Rs. 2.5 billion offering Wednesday
By Angela McDaniels
Tacoma, Wash., Sept. 6 – Srei Infrastructure Finance Ltd. plans to issue Rs. 2.5 billion of secured redeemable debentures in a public offering, according to a company news release.
The debentures will be offered in three tranches: 400-day debentures with an effective yield of 9.08%, three-year debentures with a 9¾% coupon and five-year debentures with a 10% coupon.
The issue will have a Rs. 7.5 billion over-allotment option.
The issue will open Wednesday and close Sept. 28.
Proceeds will be used for general corporate purposes.
The issue is rated AA+ by Brickwork Ratings India Pte. Ltd.
SREI is a financial services company based in Kolkata, India.
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