India’s L&T Finance committee OKs up to Rs. 5 billion of debentures

By Sarah Lizee

Olympia, Wash., Feb. 26 – L&T Finance Ltd. notified the Bombay Stock Exchange that the committee of directors approved an issue of up to Rs. 5 billion of secured redeemable nonconvertible debentures with a greenshoe of Rs. 10 billion.

The debentures, which will have a face value of Rs. 1,000 each, were approved at a meeting held Tuesday.

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

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