HDFC to issue NCDs worth Rs500 crore on Friday
The bonds would carry coupon rate of 7.7% per annum
New Delhi: HDFC Ltd will issue bonds worth Rs500 crore on Friday to meet long-term capital requirements.
HDFC will issue secured redeemable non-convertible debentures on a private placement basis for a tenor of one-and-a-half years to raise the amount, it said in a regulatory filing.
“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," HDFC said.
The bonds would carry coupon rate of 7.7% per annum. Stock of the company traded 0.09% lower at Rs1,383.05 on BSE.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!