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Oct 18, 2011

PRIVATE PLACEMENT - HUDCO TAX FREE BONDS - Series B - October 2011

HOUSING AND URBAN DEVELOPMENT CORPORATION LTD. - PRIVATE PLACEMENT of TAX FREE BONDS

 

Company Profile

 The Housing and Urban Development Corporation Ltd. (HUDCO) was incorporated on April 25, 1970 under the Companies Act 1956, as a fully owned enterprise of the Government of India. Its major objectives are to provide long term finance for construction of houses for residential purposes or finance or undertake housing  and urban development programs in the country. To finance or undertake, wholly or partly, the setting up of new or satellite town. To subscribe to the debentures and bonds to be issued by the State Housing (and or Urban Development) Boards, Improvement Trusts, Development Authorities etc., specifically for the purpose of financing housing and urban development programs. To finance or undertake the setting up of industrial enterprises of building material.

To administer the moneys received, from time to time, from the Government of India and other sources as grants or otherwise for the purposes of financing or undertaking housing and urban development programs in the country.

 

 

SUMMARY TERM SHEET (Secured Tax-free 2011 HUDCO Bonds – Series B)

Instrument

Secured, Redeemable, Non-Convertible, Non-cumulative, Tax-free Bonds in the nature of Promissory notes issued on Private Placement basis.

Face Value

Rs.1,00,000 per Bond

Form of Issuance

Dematerialized

Minimum Application Size

1 bond

Trading

Trading in De-mat only

Listing

Proposed to be listed on NSE

Interest Payment

Annually, on the interest payment date which is 1 year from the date of allotment and subsequently every year on the same date till the date of redemption.

Issue Size

RS. 200 CRORE PLUS GREEN SHOE OPTION

Rating

HUDCO's Credit Rating for the proposed bond issue is affirmed at `AA+' by Fitch Ratings India Private Limited and CARE Ratings. Instruments with this rating are considered to offer high safety for timely servicing of debt obligations and carry very low credit risk.

Maturity & Redemption

Option I :At par 10 year from the date of allotment Option II : At par 15 year from the date of allotment.

Coupon rate

Option I : 7.62% p.a. fixed payable annually for 10 Years

 

Option II :7.83 % p.a. fixed payable annually for 15 Years

Interest Payment Date

Option I & II : 1 year from the date of allotment & every year on the same date till the date of redemption

Issue & Redemption Price

At par

Deemed date of allotment

11.11.2011

Interest on application money

At coupon rate from the date of credit in HUDCO's account till a day prior to the deemed date of allotment.

Trustees

PNB Investment Services Ltd.

Registrar & Transfer Agent

M/s Karvy Computer Share Pvt. Ltd.

Minimum subscription of debt security

Application should be for a minimum one bond

Issue Time Table: Issue opening date

13.10.2011

Issue closing date

31.10.2011

Pay – in – dates

During the issue period. (The Company reserves the right to shift the Pay in Dates. The Company may at its sole discretion accept the subscription amount after the Pay in Date.)

Record Date

The record date for interest payment and for the redemption of the bonds will be a day immediately preceding book closure period i.e. 15 days prior to the interest payment / redemption date. Interest payment/repayment will be made to the bondholders as appearing in the beneficiary position on the record date.

Security

The bonds proposed to be issued are Secured by a floating first paripassu charge on present & future receivables of HUDCO to the extent of amount mobilized under the issue. HUDCO reserves its right to create first paripassu charge on present & future receivables for its present & future financial requirements.

 

To Apply this Issue, Contact us at:

Phone: 0-991-000-9312 | 0-981-826-9396 | Fill Inquiry Form Click Here


Contact Us

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