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PSUs to launch tax-free bonds worth Rs. 52.5bn next week

These bonds would have tenure in the range of 10 to 20 years carry interest rates of 8.19%-8.88%

February 24, 2014 10:31 IST | India Infoline News Service
Public sector companies are planning to raise around Rs. 52.5 billion cumulatively next week through tax-free bonds, according to a media report.
These companies include Indian Railway Finance Corporation (IRFC) for Rs. 29 billion, National Housing Bank (NHB) for Rs. 10 billion, Rural Electrification Corporation (REC) for Rs. 10.6 billion and Housing and Urban Development Corporation (Hudco) for Rs. 2.85 billion, the report added.
These bonds would have tenure in the range of 10 to 20 years carry interest rates of 8.19%-8.88%, the report further said.
These companies are yet to file their respective public issue with SEBI (Securities and Exchange Board of India) on Monday.
Most of them will open for subscription towards the end of the week, the report further said.

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