HDFC to raise Rs1,498 crore to shore up long term capital
HDFC bonds, in nature of secured redeemable non-convertible debentures, will bear coupon rate of 7.78% per annum
- Gold prices fall Rs105 on global cues, weak demand
- Tata Communications, Arvind to move out from NSE’s Nifty Midcap 50 index
- EPFO notifies 8.55% interest rate on PF for 2017-18, lowest in 5 years
- Gold prices surge Rs350 on global cues, high demand
- As Singapore and India fight over futures, investor worries grow
New Delhi: Mortgage lender HDFC Ltd on Wednesday said it will raise Rs1,498 crore by issuing debentures on Friday with a view to augment its long term capital.
The bonds, in nature of secured redeemable non-convertible debentures, will bear coupon rate of 7.78% per annum.
“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 in a regulatory filing.
The tenor of the bonds is three years. HDFC said only those persons who are specifically addressed through communication are eligible for the debentures and no other person can apply.
Subscribers would be required to buy bonds in the unit of Rs1 crore and its multiple.
Stock of HDFC closed 1.07% down at Rs1,442.40, on BSE.
Editor's Picks »
- Motherson Sumi continues to face margin pressure in foreign markets
- What the Warren Buffett indicator tells us about market valuations today
- Jet Airways lands with a thud in Q4 as fuel costs increase
- IBC amendments: Some dilutions, and a lot more speed
- Patanjali’s gambit is paying off in toothpaste wars