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December 1, 2000 		Feedback  
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Kerala Elec Board in bonds pvt placement

India's Kerala State Electricity Board on Friday opened a private placement of unsecured non-convertible debentures, an arranger to the issue said.

The issue aims to raise Rs 1 billion ($21.34 million) and has a greenshoe option to retain additional bids up to Rs 1 billion, he added.

The debentures, which carry a coupon of 13.25 per cent payable semi-annually, have a seven-year maturity with redemption in equal instalments at the end of the sixth and seventh years.

The issue is unrated, but carries a guarantee by the Kerala state government.

The issue is due for closure on December 14.

R R Financial Consultants Ltd and Canara Bank are the lead arrangers to the issue.

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