India New Issue-L&T Finance accepts bids for multiple-tenor bonds - bankers

L&T Finance

29/03/2023 13:30

MUMBAI, March 29 (Reuters) - India's L&T Finance has accepted bids worth
4.30 billion rupees ($52.25 million) for bonds maturing in three years and the
other through the reissue of 8.15% March 2028 notes, three merchant bankers said
on Wednesday.
    The company will pay an annual coupon of 8.33% for three-year bonds and has
accepted bids worth 1.50 billion rupees. 
    It will offer a yield of 8.22% for reissue of bonds and has accepted bids
worth 2.80 billion rupees, after inviting bids for them earlier in the day.
    Both the bonds are rated AAA by ICRA and the issuances will be settled on
Friday.

($1 = 82.2970 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Shailesh Kuber)
 ((Dharamraj.dhutia@tr.com))