India New Issue-L&T Finance to issue multiple-tenor bonds - bankers

L&T Finance

27/03/2023 13:47

MUMBAI, March 27 (Reuters) - India's L&T Finance plans
to raise at least 2.5 billion rupees ($30.38 million) through
two bonds, one maturing in three years and the other through
reissue of 8.15% March 2028 notes, three merchant bankers said
on Monday.
    The company has invited bids for both the bond issuances on
Wednesday, they said. 
    The issue of bonds maturing in three years has a base size
of 500 million rupees and a greenshoe option to retain an
additional subscription of 2.5 billion rupees.
    Separately, the reissue has a base size of 2 billion rupees
and a greenshoe option of 2.5 billion rupees. 
    Both the bonds are rated AAA by ICRA and the issuances will
be settled later this week. 

($1 = 82.2920 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by
Rashmi Aich)
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