|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
India's L&T Shipbuilding has finalised terms for its 25 billion rupees ($470.59 million) dual-tranche bond sale and has picked two arrangers, two sources with direct knowledge of the plans said on Friday.
The unit of Larsen & Toubro will raise 12 billion rupees through 5-year bonds with a call option after the third and fourth years at 8.95 percent, the sources said.
The shipbuilder will sell 13 billion in longer tenure 15-year bonds with 11- to 15-year separately tradable and redeemable principal parts (STRPP), and a call option after the 10th year at 9.10 percent.
Axis Bank is the sole arranger for this tranche.
The bonds are locally rated AAA (SO) on the back of a guarantee from parent Larsen & Toubro.