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LTF L&T Finance News Story

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India New Issue-L&T Finance to issue over 5-year bonds, bankers say

MUMBAI, April 20 (Reuters) - India's L&T Finance LTFL.NS is set to raise up to 5 billion rupees ($53.86 million), including a greenshoe option of 3.5 billion rupees, through the sale of bonds maturing in five years and two months, three bankers said on Monday.

It has invited coupon and commitment bids for the issue later in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

  Here is the list of deals reported so far on April 20:

IssuerTenureCoupon (in %)Issue size (in bln rupees)*Bidding dateRating
L&T Finance5 years and 2 monthsTo be decided1.5+3.5April 20AAA(Crisil, Care)
Nabard Jul 2029 reissue3 years and 3 monthsTo be decided20+50April 21AAA (Icra, Crisil)
Manappuram Finance3 years8.605.25April 17AA (Crisil)
*Size includes base plus greenshoe for some issues ($1 = 92.8375 Indian rupees) (Reporting by Dharamraj Dhutia and Khushi Malhotra) ((Dharamraj.dhutia@tr.com, khushi.malhotra@tr.com))

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