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L&T Finance NCD Opens On April 8; Offer Up To 9.05%


L&T Finance NCD Opens On April 8; Offer Up To 9.05%

NBFCs across the board are tapping retail NCDs to mop up funds and likewise L&T Financee is set to raise Rs. 1000 crore via an NCD issue. The second tranche of the NCD comes with a base issue size of Rs. 500 crore and an option to retain oversubscription of up to Rs 500 crore, the company said in a statement on Tuesday.


The bonds are available with a maturity of 3, 5 and 8 years and a coupon of between 8.48-9.05% is being offered.

"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.

Also, in February, the company against a base issue size of Rs. 1,500 crore, raised as much as Rs 2,228.06 crore in the first tranche

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

Read more about: ncd l ampt finance
Story first published: Thursday, April 4, 2019, 11:23 [IST]
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