L&T Fin NCD offer closes on Feb 22

L&T Fin NCD offer closes on Feb 22

 
Total value of NCD will be Rs 250 crore with an option to retain oversubscription up to Rs 250 crore. The NCDs have been rated “CARE AA+” by CARE and “LAA+” by ICRA.

The issue opened on February 9, 2010, and will close on February 22, 2010, the company announced in Bangalore on Monday. The yield on redemption is of upto 8.58 per annum. Of the two investment options, Option 1 is for semi-annual interest payment. The face value is of Rs 1,000 per NCD and the minimum application is of Rs 10,000 (for retail). The redemption date or maturity period is 36 months from the date of allotment.

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