India New Issue-L&T Finance accepts bids for subordinated bonds, bankers say
India New Issue-L&T Finance accepts bids for subordinated bonds, bankers say MUMBAI, Oct 9 (Reuters) - India's L&T Finance LTFL.NS has accepted bids worth 8 billion rupees ($82.69 million) for subordinated bonds maturing in 10 years, three bankers said on Friday.
The company will pay an annual coupon of 8.57% on this issue and had invited bids earlier in the day, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on October 9:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
L&T Finance | 10 years | 8.57 | 8 | October 9 | AAA (Crisil) |
Bajaj Finance | 3 year and 1 month | 8.20 (yield) | 5.10 | October 8 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 96.7500 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)
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