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


HDFC says the terms of the bonds, including issue size, pricing and tenure, are expected to be decided on 24 March. Photo: Pradeep Gaur/ Mint
HDFC says the terms of the bonds, including issue size, pricing and tenure, are expected to be decided on 24 March. Photo: Pradeep Gaur/ Mint

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.

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