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

L&T Finance

11/02/2025 05:13

MUMBAI, Feb 11 (Reuters) - India's L&T Finance plans to raise 5 billion rupees ($57.6
million), including a greenshoe option of 2.50 billion rupees, through the sale of bonds
maturing in five years and two months years, three bankers said on Tuesday.
    L&T Finance will pay an annual coupon of 7.80% on this issue and has invited commitment bids
for the same on Wednesday, they said.
    The company did not immediately reply to a Reuters email seeking comment.
    
 
   Here is the list of deals reported so far on Feb. 11: 
                                                                              
 Issuer            Tenure         Coupon (in %)  Issue size (in  Bidding      Rating
                                                 bln rupees)*    date         
                                                                              
 L&T Finance       5 years and 2  7.80           2.50+2.50       Feb. 12      AAA (Crisil)
                   months                                                     
                       2 years 1  To be decided             2+7  Feb. 12      AAA
 Citicorp Finance          month                                              (Crisil)
                                                                              
                   10 years       To be decided  20+30           Feb. 13      AAA (Crisil,
 Punjab National                                                              India Ratings)
 Bank                                                                         
                                                                              
             THDC       10 years  To be decided             2+5  Feb. 14      AA(Care)
 India                                                                        
                                                                              
 
*Size includes base plus greenshoe for some issues

($1 = 86.8800 Indian rupees)

 (Reporting by Dharamraj Dhutia and Khushi Malhotra
Editing by Sumana Nandy)
 ((Dharamraj.dhutia@tr.com))