India's L&T Shipbuilding aims to raise 25 bln rupees in debt

MUMBAI Wed Oct 17, 2012 4:49am EDT

Related Topics

MUMBAI Oct 17 (Reuters) - India's L&T Shipbuilding aims to raise 25 billion rupees ($472.01 million) via a two-tranche bond sale, three sources with direct knowledge of the plan said on Wednesday.

The unit of Larsen & Toubro aims to sell 5-year bonds with a call option after the third and fourth years, the sources added.

The shipbuilder is also looking to sell 15-year bonds with 11- to 15-year separately tradable and redeemable principal parts (STRPP), and a call option after the 10th year.

Banks have to submit quotes by Wednesday, the sources said. ($1 = 52.9650 Indian rupees) (Reporting by Archana Narayanan; Editing by Subhranshu Sahu)

FILED UNDER: