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.Discover 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!
