L&T Finance to tap NCDs to raise Rs 500cr
BS Reporter / Mumbai February 05, 2010, 0:04 IST
L&T Finance, the financial services arm of engineering and construction major L&T, plans to issue retail bonds, its second retail issue in less than six months.
The company plans to raise up to Rs 500 crore through a non-convertible debenture (NCD) issue which will involve retail investors, according to sources.
L&T Finance is looking to sell three-year bonds and the issue is likely to be priced at around 8.5 per cent, according to sources.
L&T Finance raised Rs 1,000 crore through a retail NCD issue in September last year.
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