February 17, 2012 by akhilendra
Non-Convertible Debentures (NCDs) issued by Cholamandalam Investment & Finance Company (CIFCL)
Perpetual Non-Convertible Debentures (NCDs) issued by Cholamandalam Investment & Finance Company (CIFCL). These bonds carry an attractive coupon rate of 12.95% p.a. and have been rated AA- (Stable) by ICRA. The bonds are currently available at a yield (YTM) of 12.50%. Please find the related details below:
Bond Details:
|
Particulars |
Details |
| Instrument | Perpetual NCDs (Tier 1) |
| Credit Rating | AA- (Stable) by ICRA |
| Face Value | Rs.5,00,000 per debenture |
| Tenure/Maturity | Perpetual |
| Coupon/Interest Rate | 12.95% p.a. |
| Interest Payment Frequency | Annual |
| Put Option | None |
| Call Option | After 10 Years |
| Step Up Option | If call option is not exercised, the coupon rate shall be stepped up to 13.95% p.a. |
| Instrument Form | Dematerialised |
| Listing | WDM segment of NSE |
Company Profile:
Cholamandalam Investment & Finance Company Limited (CIFCL) was incorporated in 1978 as the financial services arm of the Murugappa Group. The Company that commenced business as an equipment financing company has now emerged as a comprehensive financial services solution provider that offers vehicle finance, business finance, home equity loans, stock broking and distribution of financial products to its customers. The Company operates from over 200 branches across India with an assets under management over Rs.9000 Crores. The subsidiaries of Cholamandalam include Cholamandalam Securities Limited (CSec) and Cholamandalam Distribution Limited (CDSL).
Financial Highlights:
(Rs. Lakh)
| Particulars |
2009 |
2010 |
2011 |
Apr – Dec 2011 |
| Total Income |
112,063 |
92,950 |
120,183 |
124,400 |
| Profit after Tax |
4,275 |
1,542 |
6,218 |
11,868 |
| Total Assets |
693,683 |
691,077 |
968,222 |
N,A. |
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