HDFC to raise 3,000 crore via NCDs

  • The coupon rate of the bonds is fixed at 8.55% with redemption date of 27 March 2029
  • The secured redeemable NCDs with an issue size of 2,000 crore has an option to retain oversubscription up to 3,000 crore

New Delhi: HDFC Ltd on Monday said it will raise up to 3,000 crore by issuing bonds on a private placement basis to augment its long term capital resources.

The secured redeemable non-convertible debentures (NCDs) with an issue size of 2,000 crore has an option to retain oversubscription up to 3,000 crore, 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," it said.

The coupon rate of the bonds is fixed at 8.55% with redemption date of 27 March 2029.

Stock of HDFC closed at 1,945.75 on the BSE, down 1.95% from previous close.

Close