HDFC to raise Rs2,000 crore via bonds
New Delhi: Mortgage lender HDFC Ltd will raise Rs2,000 crore by issuing debt securities on private placement basis to augment long term resources.
The Housing Development Finance Corporation (HDFC) in a regulatory filing said it will issue secured redeemable non- convertible debentures (NCDs) on a private placement basis to persons specifically mentioned.
“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,” it said. The NCDs will offer coupon rate of 7.20% per annum (6.97% payable monthly).
The bond has a tenor of three years and one month. The issue opens tomorrow and closes the same day. Stock of HDFC closed 0.13% up at Rs1,786.15 apiece on BSE.