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L&T Infra prices retail bond issue

L&T Infra prices retail bond issue
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First Published: Wed, Feb 02 2011. 04 49 PM IST
Updated: Wed, Feb 02 2011. 04 49 PM IST
Mumbai: 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 said.
The 10-year bonds will have a buy back option at the end of fifth and seventh years, Suneet Maheshwari said.
The sale will open on 14 February and close on 4 March.
The company will raise a maximum of Rs 400 crore through the sale. It raised Rs 260 crore through a similar offering in November 2010. 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 said it planned to raise Rs 1200 crore through issue of tax-free bonds.
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First Published: Wed, Feb 02 2011. 04 49 PM IST