MUMBAI Jan 30 India's Power Finance Corp Ltd
is planning to raise at least 1.5 billion rupees
($27.91 million) through six-year bonds at 8.72 percent,
according to a term sheet obtained by Reuters.
The firm will issue bonds redeemable in three equal
instalments. Each bond will offer separately transferable
redeemable principal parts (STRPP) at the end of 4th, 5th and
6th year respectively, as per the document.
STRPP allow investors to redeem bonds at par in instalments,
making each of those principal parts separately tradeable as
well as separately interest-bearing.
Interest will be paid first on Feb. 8, 2014 and subsequently
on the same date every year until redemption, the term sheet
The unsecured bonds are rated "AAA" by Crisil, ICRA and CARE
and the pay-in date has been scheduled on Wednesday and
($1 = 53.7450 Indian rupees)
(Reporting by Archana Narayanan; Editing by Jijo Jacob)