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Business News/ Market / Stock-market-news/  HDFC to issue NCDs worth Rs500 crore on Friday
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HDFC to issue NCDs worth Rs500 crore on Friday

The bonds would carry coupon rate of 7.7% per annum

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. Photo: Pradeep Gaur/MintPremium
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. Photo: Pradeep Gaur/Mint

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.

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Published: 25 Aug 2016, 02:20 PM IST
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