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    HomeNewsBusinessCompaniesL&T Infra Finance prices retail bond issue

    L&T Infra Finance prices retail bond issue

    L&T Infrastructure Finance, a fully owned unit of Indian engineering conglomerate Larsen & Toubro, has priced its retail bond issue at 8.2% annually, and 8.3% for the cumulative option, its chief executive told Reuters.

    February 02, 2011 / 18:48 IST
       
       
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      L&T Infrastructure Finance, a fully owned unit of Indian engineering conglomerate Larsen & Toubro, has priced its retail bond issue at 8.2% annually, and 8.3% for the cumulative option, its chief executive told Reuters.


      The 10-year bonds will have a buy back option at the end of fifth and seventh years, Suneet Maheshwari told Reuters.


      The sale will open on February 4 and close on March 4.


      The company will raise a maximum of Rs 4 billion (USD 88 million) through the sale. It raised Rs 2.6 billion through a similar offering in November. The proceeds will be used for ongoing lending to infrastructure projects in Asia's third-largest economy.

      On Wednesday, state-run India Infrastructure Finance Company (IIFCL) said it planned to raise Rs 12 billion through issue of tax-free bonds.

      first published: Feb 2, 2011 06:40 pm

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