L&T Finance Holdings to raise up to Rs 150 cr by issuing bonds on pvt placement basis

L&T Finance Holdings on Tuesday said the company will raise up to Rs 150 crore by issuing bonds on a private placement basis.

The committee of directors of the company on September 17 approved the offer and issuance of up to 150,00,000 cumulative compulsorily redeemable non-convertible preference shares (CRPS) to amount of up to Rs 150 crore on a private placement basis, L&T Finance Holdings said in a regulatory filing.

The bonds carry a coupon rate of 7.95 per cent per annum payable annually, it said.

The date of allotment of the bonds is September 20, 2019. Redemption of the bonds is set for January 20, 2023.