L&T Infra prices retail bond issue

L&T Infra prices retail bond issue

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 400 crore through the sale. It raised 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 1200 crore through issue of tax-free bonds.