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Last Updated : Apr 04, 2019 09:14 AM IST | Source: PTI

L&T Finance to raise Rs 1,000 cr via NCDs

The base size of the issue, which is the second tranche, is Rs 500 crore with an option to retain oversubscription of up to Rs 500 crore, the company said in a statement Tuesday.

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Non-banking finance company L&T Finance is looking to raise up to Rs 1,000 crore through an issue of non-convertible debentures.

The base size of the issue, which is the second tranche, is Rs 500 crore with an option to retain oversubscription of up to Rs 500 crore, the company said in a statement Tuesday.

In the second tranche, the company is offering bonds maturing in 3, 5 and 8 years offering a coupon of 8.48-9.05 percent, it said.

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"Net proceeds of the issue will be utilised for on- lending, financing, and refinancing the existing debt of the company and for general corporate purposes," the company said.

The issue opens on April 8 and closes on 18 with an option of early closure or extension and will be listed on the stock exchanges.

Last month, the company had raised Rs 2,228.06 crore in the first tranche against a plan to mop up Rs 1,500 crore.

The lead managers to the issue are Edelweiss, AK Capital, Axis Bank, and Trust Investment Advisors.

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First Published on Apr 2, 2019 05:25 pm
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