Srei Infrastructure Finance Ltd. plans to issue 20 billion Indian rupees of debentures.
The company said Feb. 7 that it would issue the debentures in two tranches. The first tranche comprises 15 billion rupees of secured nonconvertible debentures and the second tranche includes 5 billion rupees of unsecured nonconvertible debentures.
The debentures are eligible for inclusion as Srei Infrastructure Finance's Tier 2 capital. The company plans to use the net proceeds from the issue for the repayment of loans and for general corporate purposes.
The lead managers for the issue are SPA Capital Advisors Ltd. and Srei Capital Market Ltd.
As of Feb. 7, US$1 was equivalent to 64.19 Indian rupees.
