L&T Finance taps market with NCDs

 
The issue which aggregates to Rs 500 crore has the option to retain over-subscription up to Rs 500 crore for issuance of additional NCDS, aggregating to Rs 1,000 crore. The NCDS come with four investment options namely a) Quarterly interest payment; b) Semi-annual interest payment, c) Cumulative interest payment and d) semi-annual interest payment.

Each of these options come with a different coupon rate of 9.62 per cent, 9.95 per cent, and 10.24 per cent per annum respectively. L&T Infrastructure Finance  Chief Executive Suneet K Maheshwari said the funds raised through the issue will be used to finance investment activitiese .

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