L&T Finance To Raise Up To Rs 150 Crore By Issuing Bonds
L&T Finance Holdings Ltd. on Tuesday said the company will raise up to Rs 150 crore by issuing bonds on a private placement basis.
The committee of directors of the company on Sept. 17 approved the offer and issuance of up to 1,50,00,000 cumulative compulsorily redeemable non-convertible preference shares to amount of up to Rs 150 crore on a private placement basis, L&T Finance Holdings said in a regulatory filing.
The bonds carry a coupon rate of 7.95 percent per annum payable annually, it said.
The date of allotment of the bonds is Sept. 20. Redemption of the bonds is set for Jan. 20, 2023.