India New Issue-L&T Finance to issue 3-year bonds - bankers

L&T Finance

23/05/2023 12:27

MUMBAI, May 23 (Reuters) - India's L&T Finance plans to raise at least 500 million
rupees ($6.1 million) through a sale of bonds maturing in three years, three merchant bankers
said on Tuesday.
    The company has invited bids from bankers and investors on Thursday, they said. 

 Issuer               Tenure       Coupon (in   Issue size (in     Bidding      Rating
                                   %)           billion rupees)*   date         
 L&T Finance          3-yr         To be        0.5 + 2            25-May       AAA
                                   decided                                      (Crisil)
 HDFC                 10-yr        7.65         36.35              23-May       AAA
                                                                                (Crisil)
 Tata Projects        2-yr and 11  8.2          2.5                23-May       AA
                      months                                                    (India
                                                                                Ratings)
 Moonburg Power       3-yr         10.5         4.25               23-May       BBB+
                                   (payable                                     (ICRA)
                                   quarterly)                                   
 Shriram Finance      4-yr and 11  To be        0.25 + 0.75        24-May       AA+
 reissue              months       decided                                      (Crisil)
 Jana Holdings        3-yr and 1   To be        4.9                24-May       B-
                      month        decided                                      (India
                                                                                Ratings)
 Fedbank Financial    6-yr and 11  To be        1 + 1              25-May       AA (CARE
 Services             months       decided                                      Ratings)
 Performance          3-yr         To be        5 + 15             29-May       AA-CE
 Chemiserve                        decided                                      (ICRA)
 
    
*Size includes base plus greenshoe for some issuances


($1 = 81.7800 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
 ((Dharamraj.dhutia@tr.com))