off-the-wire

India New Issue-L&T Finance accepts bids for 5-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 28 (Reuters) - India's L&T Finance has accepted bids worth 3.43 billion rupees ($41.47 million) through bonds maturing in five years, three merchant bankers said on Tuesday. The company will pay an annual coupon of 8.15% on this issue, for which it had invited bids from bankers and investors earlier in the day.


The bonds are rated AAA by CRISIL and India Ratings, and the issue will be settled later this week.


Earlier this month, the company raised 2.75 billion rupees via bonds maturing in 10 years at an annual coupon of 8.05%. ($1 = 82.7130 Indian rupees) (Reporting by Bhakti Tambe)

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