Last week, Reuters had reported that Larsen & Toubro is likely to raise up to 20 billion rupees, tapping the market for the first time in nearly three years. The company last tapped the bond market in May 2020, when it had raised 14.5 billion rupees selling four-year bonds at a coupon of 7.25%. ($1 = 82.2080 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: )) MUMBAI, March 23 (Reuters) - India's Larsen & Toubro is planning to raise up to 20 billion rupees ($243.29
million) through bonds maturing in five years and one month,
three merchant bankers said on Thursday.
The company has invited bids from investors and bankers for
this issue on Monday, they added.
The bonds are rated AAA by CRISIL and the issue will be
settled later next week.
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