Finance
L&T Finance Holdings gets board nod for raising over Rs 1 lakh crore via NCDs
L&T Finance Holdings on Monday got the Board nod for raising up to ₹1.01 lakh crore via NCDs in 1 or more tranches.
The funds will be raised through NCDs, including subordinate debt, masala bonds and perpetual debt. “The Board of Directors of the Company at its Meeting held on March 18, 2024, has, inter alia, approved the raising of funds by issuance of non-convertible debentures (including subordinated-debt, masala bonds and perpetual debt) (‘NCDs’) from time to time, in one or more tranches, such that at any point of time the NCDs issued and outstanding does not exceed an aggregate amount of ₹1,01,000 crores,” the company informed in an exchanges filing.
The NBFC had recently inked a pact Japan International Cooperation Agency for $125 million to support financing in rural and peri-urban areas in India.
In November 2023, L&T Finance had sourced a $125 million loan from the Asian Development Bank (ADB), and as part of the co-financing agreement, an additional $125 million loan was being raised from JICA.
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