MUMBAI, Feb 10 (Reuters) - India's L&T Finance plans to
raise at least 2 billion rupees ($24.23 million) through sale of
bonds maturing in 10 years, three merchant bankers said on
Friday.
The company will pay an annual coupon of 8.05% on this issue
and has invited bids from bankers and investors for the issue on
Monday, 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 1
billion rupees.
In December, the company raised 650 million rupees via bonds
maturing in two years and four months at an annual coupon of
7.90%.
($1 = 82.5400 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sherry
Jacob-Phillips)
