L&T Infrastructure Finance, a fully owned unit of Indian engineering conglomerate Larsen & Toubro, said on Thursday its retail bond issue will open on February 7 and close March 7.

L&T Infrastructure Finance had priced the issue at 8.2% annually, and 8.3% for the cumulative option, its chief executive told on Wednesday.

The company will raise a maximum of Rs 400 crore (USD 88 million) through the sale. The proceeds will be used for ongoing lending to infrastructure projects in the country.

It raised Rs 260 crore through a similar offering in November.