80CCF Infrastructure Bonds Calendar 2011

IFCI has come out with the first infrastructure bond issue of this year, and I was a bit surprised to see how early they came out with the issue this time.

They had to come out with several tranches last year because they were never able to reach their targets, and I think the same thing is going to happen this year as well.

They will come out with several tranches and so will the other players who are allowed to issue infrastructure bonds.

I had written a fairly comprehensive post on Section 80CCF infrastructure bonds FAQ last year, and you can read that post and the comments to familiarize yourself with these bonds if you aren’t already aware of them or need a refresher.

I think it’s too early to buy these infra bonds right now, and it’s better to wait for a few more issuers to come out with their issues. Don’t expect a much higher interest rate from the other issuers though because the interest that they can offer is capped, and the interest rate difference isn’t going to be much.

The other thing that I want to emphasize is that the real benefit of these bonds is that they allow you tax benefits to the tune of Rs. 20,000 over and above what you save by investing in Section 80C instruments, so if you don’t think you will be able to max out Rs. 1 lakh investment in 80C, then don’t bother with these bonds.

I’m going to review each of these issues in detail, and use this page as a calendar and summary page for every infrastructure bond issued.

If you want to see some more details on the issue then let me know and I will modify the table.

S.No.	Issuer	Series	Tenure	Open & Close Date	Interest Rate
1	IDFC Tranche 2	Series 1	10 years with a buyback option at 5 years	Jan 11 2012 – Feb 25 2012	8.70%
2	IDFC Tranche 2	Series 2	10 years with a buyback option at 5 years	Jan 11 2012 – Feb 25 2012	8.70% compounded annually
3	Srei Infrastructure Finance	Series 1	10 years with a buyback option at 5 years	Dec 31st 2011 – Jan 31st 2012	8.90%
4	Srei Infrastructure Finance	Series 2	10 years with a buyback option at 5 years	Dec 31st 2011 – Jan 31st 2012	8.90% but compounded and will be paid at maturity
5	Srei Infrastructure Finance	Series 3	15 years with a buyback option at 5 years	Dec 31st 2011 – Jan 31st 2012	9.15%
6	Srei Infrastructure Finance	Series 4	15 years with a buyback option at 5 years	Dec 31st 2011 – Jan 31st 2012	9.15% but compounded and will be paid at maturity
7	REC	Series 1	10 years with a buyback option after 5 years	Dec 19 2011 – Feb 10 2012	8.95% but compounded and will be paid at maturity
8	REC	Series 2	10 years with a buyback option after 5 years	Dec 19 2011 – Feb 10 2012	8.95% annual
9	REC	Series 3	15 years with a buyback option after 7 years	Dec 19 2011 – Feb 10 2012	9.15% but compounded and will be paid at maturity
10	REC	Series 4	15 years with a buyback option after 7 years	Dec 19 2011 – Feb 10 2012	9.15% annual
11	L&T Infra	Series 1	10 years with a buyback option after 5 years	Nov 25 2011- Dec 24 2011	9.00% payable annual
12	L&T Infra	Series 2	10 years with a buyback option after 5 years	Nov 25 2011- Dec 24 2011	9.00% effective, but interest will not be paid annually and a lump-sum will be paid at maturity.
13	IFCI Infra Series IV	Series I	10 year with 5 year buyback	Nov 30 2011- Jan 16 2012	9.09% effective, but interest will not be paid annually and a lump-sum will be paid at maturity.
14	IFCI Infra Series IV	Series II	10 years with a buyback option after 5 years	Nov 30 2011- Jan 16 2012	9.09% payable annual
15	IFCI Infra Series IV	Series III	15 years with a buyback option after 5 years	Nov 30 2011- Jan 16 2012	9.16% effective, but interest will not be paid annually and a lump-sum will be paid at maturity.
16	IFCI Infra Series IV	Series IV	15 years with a buyback option after 5 years	Nov 30 2011- Jan 16 2012	9.16% payable annual
17	IFCI	Series III – Option 1	10 years	Sept 21 2011 – Nov 14 2011	8.5% effective, but interest will not be paid annually and a lump-sum will be paid at maturity.
18	IFCI	Series III – Option II	10 years	Sept 21 2011 – Nov 14 2011	8.5% payable annual
19	IFCI	Series III – Option III	15 years	Sept 21 2011 – Nov 14 2011	8.75% effective, but interest will not be paid annually and a lump-sum will be paid at maturity.
20	IFCI	Series III – Option IV	15 years	Sept 21 2011 – Nov 14 2011	8.75% annual
21	PFC	Series 1	10 years with a buyback option after 5 years	Sep 29 2011 – Nov 4 2011	8.5% interest payable annual
21	PFC	Series 2	10 years with a buyback option after 5 years	Sep 29 2011 – Nov 4 2011	8.5% interest cumulative payable at the end of the term
22	PFC	Series 3	15 years with a buyback option after 7 years	Sep 29 2011 – Nov 4 2011	8.75% payable annual
23	PFC	Series 4	15 years with a buyback option after 7 years	Sep 29 2011 – Nov 4 2011	8.75% cumulative payable at the end of the term
24	IDFC	Series 1	10 years with a buyback option after 5 years	Nov 21st2011- Dec 16 2011	9.00% payable annual
25	IDFC	Series 2	10 years with a buyback option after 5 years	Nov 21st2011- Dec 16 2011	9.00% effective, but interest will not be paid annually and a lump-sum will be paid at maturity.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I haven’t found their prospectus yet and this info is sourced from Moneyvriksh – when I get hold of the prospectus – I will do a more detailed post.

Update 1: Fixed Option 2 interest payment detail per Shiv’s comment

Update 2: Including Option 2 per comment from Shiv (who you can contact to invest in Infrastructure Bonds & Save Tax u/s. 80CCF, Call/SMS 9811797407 (Delhi, Gurgaon or Noida).

You may also like:

1. L&T Infrastructure Bonds Open from 7th Feb to 7th March 2011
2. REC Infrastructure Bonds: Section 80CCF Infra Bonds
3. Section 80CCF Infrastructure Bonds FAQ
4. IIFCL Infrastructure Bonds Issue
5. Infrastructure Bonds Calendar

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