Launch of Bond Investments

We have launched INR Bonds worth Rs. 500 Cr on private placement basis at cut off coupon rate of 8.30% p.a. fixed through Book Building process among Arrangers on 16^th Feb 2015 and money has been received on 23^rd Feb 2015. The Bonds will be repaid equally in 7-10 years with a call option at 7^th year. GAIL has got competitive rate considering the current market scenario and due to its AAA + domestic rating from M/s CARE and M/s India Rating.