Latest News | HDFC to Raise Rs 10,000 Crore Via NCDs
Get latest articles and stories on Latest News at LatestLY. Mortgage lender HDFC on Monday said it will raise Rs 10,000 crore by issuing non-convertible debentures (NCDs) on a private placement basis to shore up its resources.
New Delhi, Jun 12 (PTI) Mortgage lender HDFC on Monday said it will raise Rs 10,000 crore by issuing non-convertible debentures (NCDs) on a private placement basis to shore up its resources.
These unsecured NCDs have a tenure of 10 years, and the coupon rate will be decided on the electronic bidding platform, HDFC said in a regulatory filing.
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The object of the issue is to augment the long-term resources of the corporation, it said.
The proceeds of the issue would be utilised for financing/refinancing the housing finance business requirements, it said.
(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)