NEW ISSUE-LIC Hsg Fin to raise 1.5 bln rupees via bonds

MUMBAI, Aug 11 (Reuters) - LIC Housing Finance (LICH.BO: Quote, Profile, Research), part of India's largest insurer, Life Insurance Corp. is selling bonds to raise 1.5 billion rupees, three merchant bankers familiar with the deal said.

Following are the terms and conditions of the issue: Borrower LIC Housing Finance Type Bonds Maturity 10 years Coupon 11.08 percent Issue amount 1.5 billion rupees along with greenshoe option to retain oversubscription Opening date Monday Closing date Tuesday Rating "AAA" by Crisil and CARE Arrangers Standard Chartered Bank (Reporting by Swati Bhat; Editing by Ramya Venugopal)