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explain secured premium notes

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Dear friend Uma, **Meaning and Lock in period** Secured premium notes are issued with the warrant which is kind of detached. This way it ensures the holder right to apply and get the allotted equity shares.It also has many options to do the sell back to the holders at par or face value after the lock-in period. SPN is a kind of non-convertible debenture (NCD) attached with warrant. It can be issued by the companies with the lock-in-period of say four to seven years. This means an investor can redeem his SPN after lock-in-period. SPN holders will get principal amount with interest on installment basis after lock in period of said period. However, during the lock in period no interest is paid. **Features of a SPN** 1.SPN instruments are issued with a detachable warrant. 2.These instruments have lock-in-period for 4 to 7 years. 3.No interest is paid during the lock in period. 4.After the lock-in-period, the holder may sell back the SPN to the company

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Open uri20170510 32134 tcchcu?1494421832 answered

Hiii frnd **Secured Premium Notes** Secured premium notes (SPNs) are financial instruments which are issued with detachable warrants and are redeemable after certain period. SPN is a kind of non-convertible debenture (NCD) attached with warrant. It can be issued by the companies with the lock-in-period of say four to seven years. This means an investor can redeem his SPN after lock-in-period. SPN holders will get principal amount with interest on installment basis after lock in period of said period. However, during the lock in period no interest is paid. Thus, SPNs are nothing but a share warrant which are only issued by the listed companies after getting the approval from the central government. SPN is a hybrid security i.e. it combines both features of equity and debt products. Regards,

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