L&T Finance Limited redeems 2016 Series E perpetual debentures
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L&T Finance Limited exercised the call option to redeem its 2016 Series E Subordinated Perpetual debentures.
- Principal repayment: Rs 15 crore
- Coupon payment (9.60%): Rs 1.44 crore → total cash outflow: ~Rs 16.44 crore on 3 June 2026
- Redemption eliminates a Tier‑II perpetual debt, likely improving capital adequacy ratios and reducing long‑term financing costs
- Cash needed is modest versus the firm’s liquidity; funded through internal cash flows or short‑term borrowing, with no new issuance
- Impact: debenture holders receive full principal + interest; equity investors may benefit from a stronger balance sheet and lower cost of capital.
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