By Sarah Lizee
Olympia, Wash., April 24 – Larsen & Toubro Ltd. informed the Bombay Stock Exchange that it issued Rs. 1.5 billion of 7.87% unsecured redeemable nonconvertible debentures on April 18.
The company said that on March 26 its board of directors approved additional long-term borrowings through an issue of secured or unsecured debentures, bonds, or term loans, including hybrid instruments that do not dilute shareholders’ voting rights up to Rs. 70 billion, or $1 billion, whichever is higher.
Mumbai, India-based Larsen & Toubro is an industrial engineering and construction company.
| Issuer: | Larsen & Toubro Ltd.
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| Issue: | Unsecured redeemable nonconvertible debentures
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| Amount: | Rs. 1.5 billion
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| Coupon: | 7.87%
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| Settlement date: | April 18
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| Announcement date: | April 24
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