ICICI PLANS Rs300-CR BONDS ISSUE IN DEC
Article Abstract:
ICICI Ltd is to issue Rs300 crore worth of bonds. The issue is to open on December 9, 1998. This is the fifth issue of ICICI Ltd. Its earlier issues netted Rs1,753 crore. It plans to make 2 more similar issues in January and March 1999. The 4 types of bonds are Encash Bonds, Regular Income Bonds, Tax Saving Bonds and Money Multiplier Bonds. The Encash Bond has a 5-year-to-maturity of 7 percent with a liquidity option after one year. The Regular Income Bond has the same yield but provides monthly, half-yearly and yearly income. The Money Multiplier Bond has a yield of 13.90-14.10 percent with maturity options of 64 months, 127 months and 233 months to double, quadruple and multiply 25 times the initial amount. (nr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ICICI ANNOUNCES FOURTH RETAIL BONDS ISSUE
Article Abstract:
ICICI has planned its fourth retail bonds issue for 1998-99 with a change in the interest rates for the short term. The company has targeted a mobilisation of Rs400 crore through its four retail bonds and is offering a higher yield on the first year of holding the Encash Bonds. The Encash Bonds series has a tenure of 7 years but permits investors to exit any time after one year. Investors holding the bonds for the entire period of seven years will benefit from an interest rate of 14 percent on investment. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ICICI FIXES ISSUE SIZE AT Rs300 CR
Article Abstract:
Industrial Credit and Investment Corporation of India (ICICI) has decided to maintain Rs300 crore as the standard size for all the tranches of its Safety Bonds issue. All the tranches will have a green shoe option and will be launched during 1998-99. ICICI proposes to enter the market with the tranches 10 times in 12 months. It does not expect to receive over Rs600 crore at any time. The bonds will carry 13.5 percent for five years and 13.75 percent for 7 years. (ag)
Comment:
Decides to maintain Rs300 crore as standard size for all tranches of Safety Bonds issue
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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