L&T Infrastructure Finance, a fully-owned unit of Indian engineering conglomerate Larsen & Toubro, is making a public issue of long-term infrastructure bonds. The company has said that its retail bond issue will open on February 7 and close on March 7. It had priced the issue at 8.2% annually and 8.3% for the cumulative option, its chief executive told CNBC-TV18.
Through this sale, the company will raise a maximum of Rs 400 crore (USD 88 million) and the proceeds will be used for ongoing lending to infrastructure projects in the country. It raised Rs 260 crore through a similar offering in November. The company proposes to issue secured redeemable non-convertible debentures aggregating upto Rs 100 crore with an option to retain an oversubscription of up to Rs 300 crore for allotment of additional bonds. Source: Moneycontrol.comDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
