India New Issue-L&T Finance accepts bids for 10-year bonds - traders

L&T Finance

13/02/2023 12:45

MUMBAI, Feb 13 (Reuters) - India's L&T Finance has
accepted bids worth 2.75 billion rupees ($33.27 million) for
bonds maturing in 10 years, three merchant bankers said on
Friday.
    The company will pay an annual coupon of 8.05% on this issue
and had invited bids from bankers and investors for the issue
earlier in the day, they said.
    The bonds are rated AAA by CRISIL and India Ratings and the
issue will close for subscription On Tuesday. 
    In December, the company raised 650 million rupees via bonds
maturing in two years and four months at an annual coupon of
7.90%.
     ($1 = 82.6550 Indian rupees)
 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Sherry Jacob-Phillips)
 ((Dharamraj.dhutia@tr.com))