Thiruvananthapuram, Sep 11 (UNI) Kerala Financial Corporation (KFC), a state-based leading financial institution, has hit the BSE electronic bidding platform on Friday to raise Rs 250 crore from the debt market by issuing non-SLR Bonds of Rs 100 crore, with a greenshoe option of Rs 150 crore, on private placement basis.
The bonds, rated AA (SO) by two RBI and SEBI approved rating agencies with stable outlook for investment, would have tenure of ten years bearing a coupon rate payable semi-annually and be redeemable from the sixth year, KFC Chairman and Managing Director Tomin J Thachankary, who took over charge early this week, said.
“KFC has been issuing bonds since 2011 and this is the seventh launch.
It is the only PSU under Kerala Government and the only SFC in the country to raise funds without government guarantee. We are going to the market based on the strength of its financials,” he added.