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India's Srei Infrastructure Finance to raise 2B rupees in debt issue

India's Srei Infrastructure Finance Ltd. is seeking to raise up to 2 billion rupees through an issuance of nonconvertible debentures.

The public offering, with an option to retain oversubscription up to 7.07 billion rupees, is expected to open Jan. 30 and close Feb. 23.

The company said Jan. 25 that it is offering secured debentures with tenors of 400 days, three years and five years. The debentures will have coupons of 8.50%, 9.25% and 9.50%, respectively.

As of Jan. 25, US$1 was equivalent to 68.08 Indian rupees.