India New Issue-L&T Finance to issue 5-year bonds - traders

L&T Finance

24/02/2023 12:54

MUMBAI, Feb 24 (Reuters) - India's L&T Finance plans to
raise at least 2 billion rupees ($24.18 million) through the
sale of bonds maturing in five years, three merchant bankers
said on Friday.
    The company will pay an annual coupon of 8.15% on this issue
and has invited bids from bankers and investors for the issue
earlier on Tuesday, they said.
    The bonds are rated AAA by CRISIL and India Ratings and the
issue will close for subscription next week.
    The issue has a greenshoe option to retain an additional 3
billion rupees. 
    Earlier this month, the company raised 2.75 billion rupees
via bonds maturing in 10 years at an annual coupon of 8.05%.
($1 = 82.7230 Indian rupees)
 (Reporting by Dharamraj Dhutia
Editing by Nivedita Bhattacharjee)
 ((Dharamraj.dhutia@tr.com))