Larsen & Toubro Finance launches Secured NCDs

 

 

Larsen & Toubro Finance launches Secured NCDs

Issue Period: August 18th, 2009– September 4th, 2009     Issue Size   The issue size would be Rs. 500 crs. with an option to retain over subscription of up to Rs. 500 crores.   About Company   L&T Finance Limited (LTF) is a subsidiary of engineering and construction giant Larsen & Toubro Limited. LTF offers a spectrum of financial products and services for trade, industry and agriculture and has evolved into a multi product finance company with a diversified corporate and retail portfolio.   Issue Details   Options I II III IV Interest Payment Quarterly Semi - annual Cumulative Semi - annual Min Application (Rs) Rs 10,000 /- (Retail) Rs 10,000 /- (Retail) Rs 10,000 /- (Retail) Rs 10,000 /- (Retail) Rs 10,100 /- (HNI) Rs 10,100 /- (HNI) Rs 10,100 /- (HNI) Rs 10,100 /- (HNI) Face Value Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Multiples Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Coupon Rate 9.51% p.a. 9.62% p.a 9.95% Compounded annually 10.24% p.a Yield on Redemption 9.85% 9.85% 9.95% 10.50% Tenure 60 months 60 months 88 months 120 months Redemption Date / Maturity Period 60 months from the deemed date of allotment. 60 months from the deemed date of allotment. 88 months from the deemed date of allotment. 120 months from the deemed date of allotment. Redemption Amount Face value plus any interest that may have accrued payable on redemption. Face value plus any interest that may have accrued payable on redemption. Rs.2,005/- per NCD Face value plus any interest that may have accrued payable on redemption.    Highlights   o        Issue Rated CARE AA+ by CARE and LAA+ by ICRA   o        Issuance and trading in demat form only   o        Security will be created for the purpose of this issue as per the Debenture Trust - cum - Mortgage Deed For details: SMS "finvest" 56070 finvest@simplytax.in

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