Latest News | HDFC Ltd Plans to Raise Rs 5,000 Crore Via NCDs
Get latest articles and stories on Latest News at LatestLY. Mortgage lender HDFC Ltd on Tuesday said it is planning to raise up to Rs 5,000 crore by issuing bonds on private placement basis to meet its business requirements.
New Delhi, Jan 5 (PTI) Mortgage lender HDFC Ltd on Tuesday said it is planning to raise up to Rs 5,000 crore by issuing bonds on private placement basis to meet its business requirements.
HDFC will issue secured redeemable non-convertible debentures (NCDs) on private placement basis with an issue size of Rs 2,000 crore and an option to retain over-subscription of up to Rs 3,000 crore, according to a regulatory filing.
The coupon on the bonds, maturing in January 2031, has been fixed at 6.83 per cent per annum.
"The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing /refinancing the housing finance business requirements of the Corporation," the filing said.
The issue will open for subscription on January 7 and close on the same date.
(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)