Date:17/07/2004 URL: http://www.thehindubusinessline.com/2004/07/17/stories/2004071701420800.htm

Back SIDBI issues bonds on pvt placement

Our Bureau

Mumbai , July 16

SMALL Industries Development Bank of India (SIDBI) has issued its capital gains bonds through the private placement route on July 15.

The issue will be available on tap. The bank proposes to mobilise a portion of its resource requirement in the current financial year by offering two instruments for tenures of three years and five years - with put and call option at the end of the lock-in period of three years - at a coupon rate of 5 per cent, said a press release.

The bond has been assigned `AAA' rating by CARE.

No tax will be deducted at the source on the interest payable on these bonds, the release said.