India New Issue-L&T Finance to issue 10-year bonds - bankers

L&T Finance

11/09/2023 05:09

MUMBAI, Sept 11 (Reuters) - India's L&T Finance  LTFH.NS  plans to raise at least 16
billion rupees ($192.93 million) through the sale of bonds maturing in 10 years, three merchant
bankers said on Monday.
    The company has invited bids from bankers and investors for the issue on Tuesday. In June,
it had raised five billion rupees through three-year and four-month bonds at a 7.91% coupon.

 Here is the list of deals reported so far on Sept. 11
             Issuer                                                      
                             Tenure            Issue size (in            Rating
                                      Coupon   bln rupees)*    Bidding   
                                      (in %)                   date      
                                                                         
                                                                         
 L&T Finance               10-yr      To be    16 + 2          Sept. 12  AAA (Crisil,
                                      decided                            India Ratings)
             LIC Housing   2-yr and   To be    5 + 10          Sept. 12  AAA (Crisil,
 Finance May 2026 reissue  8 mnts     decided                            Care)
                                                                         
             Kotak         2-yr and   7.78     1.78            Sept. 8   AAA (Crisil)
 Mahindra Prime Oct 2025   1 month    (yield)                            
 reissue                                                                 
                                                                         
             Kotak         2-yr and   7.92     1.75            Sept. 8   AAA (Crisil)
 Mahindra Prime Nov 2025   2 months   (yield)                            
 reissue                                                                 
                                                                         
             Kotak         2-yr and   7.97     2.45            Sept. 8   AAA (Crisil)
 Mahindra Prime May 2026   8 months   (yield)                            
 reissue                                                                 
                                                                         
             Bajaj              5-yr     7.85           11.95  Sept. 8   AAA (Crisil)
 Finance                                                                 
                                                                         
 Tata Capital Financial     2-yr and  7.96                  3  Sept. 8   AAA (Crisil,
 Apr 2026 reissue           7 months  (yield)                            Icra)
 
  * Size includes base plus greenshoe for some issues



($1 = 82.9300 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Sonia Cheema)
 ((Dharamraj.dhutia@tr.com))