| Nomenclature |
REC Capital Gain Tax Exemption Bonds Series-VIII |
| Minimum Application |
One Bond of Rs.10000/- |
| Maximum Application |
500 Bonds of Rs.10000/- as per the conditions laid in the
Finance Act, 2007 |
| Mode of issue |
Private Placement |
| Face Value |
Rs, 10,000/- |
| Mode of subscription |
100% on application |
| Deem date of allotment |
Last day of each month in which the subscription money
is realized and credited to REC account. |
| Coupon Rate &
Payment of Interest |
5.75% (payable annually on 30th June) from the date of
realization of cheque/draft in account of REC. Ist interest will be payable on 30th June, 2009. |
| Tap Period |
Upto 31st March, 2009. However, the corporation would
have a right to close the issue any time by giving a prior notice of 5 days in any two leading dailies. |
| Tenor |
3 years from the deemed date of allotment. |
| Redemption |
At par, at the end of 3 years from the deemed date of
allotment. |
| Transfer |
Non-Transferable. |
| Nature of Security |
English mortgage creating pari-pasu charge over REC’s
immovable property and charge on receivables of REC to the satisfaction of the trustee. |
