India New Issue-L&T Finance accepts bids for over 3-year bonds - bankers

L&T Finance

02/06/2023 09:29

MUMBAI, June 2 (Reuters) - India's L&T Finance has accepted bids worth 5 billion rupees
($60.7 million) for bonds maturing in three years and four months, three bankers said on Friday.
    The company will pay a coupon of 7.91% on this issue for which it had invited bids earlier
in the day. 
Below is the list of deals reported so far on June 2: 
             Issuer               Tenure                                     
                                                    Issue size (in           Rating
                                          Coupon    bln rupees)*    Bidding  
                                          (in %)                    date     
                                                                             
                                                                             
 L&T Finance          3 yrs and 4 months  7.91      5               Jun 2    AAA (Crisil)
             NIIF     9 yrs               To be     4.5+0.5         Jun 5    AAA (ICRA,
 Infra Finance May                        decided                            Care Ratings)
 2032 reissue                                                                
                                                                             
             LIC      2 yrs and 6 months     To be           5 + 5  Jun 5    AAA (Crisil)
 Housing Finance Nov                       decided                           
 2025 reissue                                                                
                                                                             
 
* Size includes base plus greenshoe for some issuances

     ($1 = 82.3150 Indian rupees)

 (Reporting by Bhakti Tambe)
 ((Bhakti.Tambe@thomsonreuters.com))