India New Issue-L&T Finance to issue intra-month CP - bankers

L&T Finance

02/08/2023 11:35

(NOTE TO SUBSCRIBERS: Reuters is considering discontinuing the following 'India
New Issue' report. If you have feedback or questions, please contact India
Financial News Editor Ira Dugal Ira.Dugal@thomsonreuters.com prior to August 7)
       MUMBAI, Aug 2 (Reuters) - India's L&T Finance plans to raise funds by
selling commercial papers maturing within August at a yield of 6.97%, three
merchant bankers said.

 Below is the list of deals reported so far on Aug. 2  
 Issuer Name               Instrument  Tenure (in    Yield     Amount (in bln
                           type        months)       (in %)    rupees)
 L&T Finance               CP          intra         6.97      6
 Larsen & Toubro           CP          3             6.94      9
 JM Financial Services     CP          3             7.95      1
 
($1 = 82.5800 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))