off-the-wire

India New Issue-L&T Finance to issue multiple-tenor bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 27 (Reuters) - India's L&T Finance plans to raise at least 2.5 billion rupees ($30.38 million) through two bonds, one maturing in three years and the other through reissue of 8.15% March 2028 notes, three merchant bankers said on Monday. The company has invited bids for both the bond issuances on Wednesday, they said.


The issue of bonds maturing in three years has a base size of 500 million rupees and a greenshoe option to retain an additional subscription of 2.5 billion rupees. Separately, the reissue has a base size of 2 billion rupees and a greenshoe option of 2.5 billion rupees.


Both the bonds are rated AAA by ICRA and the issuances will be settled later this week.
($1 = 82.2920 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Rashmi Aich)

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