L&T Finance Ltd.

L&T Infra Finance, a subsidiary of L&T Finance Holdings has raised about $100 million through the External Commercial Borrowing (ECB) route this fiscal, largely to fund solar power projects.

The ECB borrowings have been done to lower the cost of our funds. The company has drawn $45 million till September 30, of the total ECB borrowings so far.

L&T Infra targets to mop up Rs 570 crore through tranche-II of the tax saving bonds having face value of Rs 1,000 each, at a lower coupon rate of 8.70%.  The issue is on and closes on February 11.

Recently, the company had raised Rs 530 crore through its retail tax-saving bond issue and announced the launch of another issue to mop up about Rs 570 crore at a lower coupon rate of 8.7%.