HDFC plans raise $750 million via rupee denominated bonds
Mortgage firm HDFC says it plans to raise about $750 million through rupee denominated bonds to fund its business expansion
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New Delhi: Mortgage firm HDFC Ltd on Tuesday said it plans to raise about $750 million (around Rs5,000 crore) through rupee denominated bonds to fund its business expansion.
HDFC Ltd has established a medium term note programme for amount of up to $750 million. “...the Corporation is now contemplating subject to market conditions, undertaking an issuance of rupee denominated bonds under the said MTN programme to overseas investors,” HDFC Ltd said in a regulatory filing to stock exchanges.
The terms of the bonds, including issue size, pricing and tenure, are expected to be decided on 24 March, it added.