India's Larsen & Toubro to issue 4-month CP - traders

MUMBAI (Reuters) - India's Larsen & Toubro Ltd plans to raise funds through issuance of commercial paper maturing in nearly four months, four merchant bankers said on Wednesday.

The company will offer a yield of 5.90% on this issue, and has received commitments worth around 10 billion rupees ($126.25 million) so far, the bankers said.

The notes are rated A1+ by CRISIL and the issue will mature on Nov. 30.

($1 = 79.2060 Indian rupees)

(Reporting by Dharamraj Lalit Dhutia; Editing by Vidya Ranganathan)

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