L&T Infrastructure Finance retail bond issue to open on Feb 7

MUMBAI: L&T Infrastructure Finance, a fully owned unit of Indian engineering conglomerate Larsen & Toubro , said on Thursday its retail bond issue will open on Feb. 7 and close March 7.

L&T Infrastructure Finance had priced the issue at 8.2 percent annually, and 8.3 percent for the cumulative option, its chief executive told Reuters on Wednesday.

The company will raise a maximum of 4 billion rupees ($88 million) through the sale. The proceeds will be used for ongoing lending to infrastructure projects in the country.

It raised 2.6 billion rupees through a similar offering in November.

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