Latest News | HDFC Enhances Limit to Borrow Via Medium-term Bonds
Get latest articles and stories on Latest News at LatestLY. The country's largest mortgage lender HDFC Ltd on Wednesday said it has enhanced its existing limit to raise capital through medium-term notes to up to USD 2.8 billion (about Rs 20,875.65 crore).
New Delhi, Jul 28 (PTI) The country's largest mortgage lender HDFC Ltd on Wednesday said it has enhanced its existing limit to raise capital through medium-term notes to up to USD 2.8 billion (about Rs 20,875.65 crore).
Housing Development Finance Corporation on Wednesday updated its existing medium-term note (MTN) programme for an amount of up to USD 2.8 billion in order to enable the Corporation to issue rupee/foreign currency-denominated bonds in the international capital market, it said in a regulatory filing.
The enhancement is subject to regulatory approvals.
"The update of the MTN programme is only an enabling step, and presently no instruments are being issued by the Corporation," it said.
The MTN programme allows a company to issue bonds to meet its constant capital requirement for the medium term.
The coupon on these types of bonds are higher than those on short-term notes.
These can be offered with or without call options.
Shares of HDFC on Wednesday closed 0.31 per cent down at Rs 2,427.15 apiece on the BSE. HRS hrs
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)