Comments
Larsen & Toubro said on Tuesday that it has launched and priced an accelerated offering of foreign currency convertible bonds (FCCBs).
The issue size is $200 million of face value $200,000 a bond carrying a coupon rate of 0.675 per cent payable semi-annually. The tenor of the bond will be five years and one day.
In a filing to the stock exchanges, L&T said the FCCBs are convertible into equity shares at the option of the bondholders. The initial conversion price would be Rs 1,916.50 a share.
L&T said an application will be made for the FCCBs to be listed on Singapore Exchange Securities Trading Ltd and for in-principle approval for the shares to be issued upon conversion of the FCCBs to be listed on the NSE and BSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.