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Monday, January 11, 2016

Non-convertible Debentures 2016

 

Non-convertible debentures


Non-convertible debentures (NCDs) are debentures which cannot be converted into equities or shares. As the convertibility feature is not attached to these debentures, they usually carry higher interest rates than their convertible counterparts.

For those who are looking for the investment instrument that offers high returns with moderate risk and giving the flexibility of choosing between short and long tenures, NCDs might be the right choice.

An NCD can be secured or unsecured. Secured NCDs are backed by the issuer company's assets to fulfil the debt obligation unlike unsecured NCDs. The NCD issues are rated by credit rating agencies like CRISIL, ICRA, FITCH, and CARE to ensure the company's ability to service the debt on time & lower default risk.

Benefits:

  • As NCD's are listed on stock exchanges, they provide liquidity to holder
  • The tenure of NCDs can be anywhere between 2 years and 20 years
  • NCDs are rated by rating agencies such as CRISIL, ICRA and FITCH
  • If you buy a NCD that pays interest then the interest will not attract TDS
  • The debentures are generally offered in four options: monthly, quarterly, annual and cumulative interest
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