L&T Finance plans to raise Rs 500 crore

FC Investigative Bureau

Business, Companies

The NCDs have been rated AAA by rating agencies Crisil, Care and India Ratings.

&T Finance

Mumbai: L&T Finance, a wholly owned subsidiary of L&T Finance Holdings, announced Rs 500 crore secured redeemable non-convertible debentures (NCD) public issue with an option to retain oversubscription up to Rs 1,000 crore, opening on December 16.

The NCDs of face value of Rs 1,000 each offer coupon rates in the range of 8.25 per cent to 8.65 per cent for different maturities of 36 month, 60 month and 84 months available to all four categories of investors β€” retail, high net-worth, non-institutional and institutional investors.

The NCDs have been rated AAA by rating agencies Crisil, Care and India Ratings with regards to safety regarding timely servicing of financial obligations.

β€œThe issue opens on December 16, 2019 and closes on December 30, 2019, with an option of early closure or extension,” it said. Net proceeds will be used onward lending, etc.

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