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L&T to raise $100 m through FCCB issue

MUMBAI: Larsen & Toubro on Thursday said it will raise $100 million through the issue of Foreign Currency Convertible Bonds (FCCB) in the overseas markets for financing its capital expenditure and international acquisition plans. The FCCBs have a face value of ten million Japanese yen per bond and a conversion price of Rs. 2,498.45 per bond, a premium of 35 per cent to the closing price of L&T of Rs. 1,850.70 on January 4.

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