L&T Finance Raises ₹1,000 Crore via Secured NCD Private Placement

L&T Finance has allotted ₹1,000 crore in senior, secured, and rated Non-Convertible Debentures (NCDs) through a private placement to identified investors on July 7, 2026. The issuance, comprising 1,00,000 NCDs of ₹1,00,000 face value each, is secured by a first-ranking charge on identified fixed deposits and standard receivables. Key Issuance Details: The ₹1,000 crore issue is split into two distinct tranches with staggered maturities: Option I (₹500 Crore): Carries a coupon rate of 7.7942% p.a. with a tenor of 1,893 days, maturing on June 27, 2031. Option II (₹500 Crore): Carries a coupon rate of 7.8384% p.a. with a tenor of 1,179 days, maturing on September 28, 2029. Terms & Governance: Listing: The NCDs are proposed to be listed on the debt market segment of the National Stock Exchange (NSE). Default Protection: In the event of a default in coupon or principal payment, an additional interest of 2% p.a. will be applicable over the base coupon rate. Regulatory Compliance: The allotment was formally disclosed in compliance with SEBI (LODR) Regulations, 2015. Strategic Outlook: This private placement enables L&T Finance to efficiently raise medium-to-long-term debt at competitive market rates. The staggered maturity structure (2029 and 2031) ensures smooth liability management and cash flow planning, while the secured nature of the bonds provides robust safety to the subscribing investors.