India's L&T Finance announces plans to issue Rs. 250 million debentures

By Tali Rackner

Norfolk, Va., March 18 - L&T Finance Ltd. informed the Bombay Stock Exchange that it intends to issue unsecured redeemable nonconvertible debentures with a face value of Rs. 1 million each, totaling Rs. 250 million.

There is a Rs. 250 million greenshoe.

The debentures will be issued in the nature of subordinated tier 2 debt on a private placement basis.

The issuer is a Mumbai-based finance company and a subsidiary of Larsen & Toubro Ltd.

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