Home >Companies >News >HDFC to raise up to 4,000 cr via bonds
HDFC AMC operates as a joint venture between Housing Development Finance Corporation and Standard Life Investments. Photo: Mint
HDFC AMC operates as a joint venture between Housing Development Finance Corporation and Standard Life Investments. Photo: Mint

HDFC to raise up to 4,000 cr via bonds

  • The issue size of the secured redeemable NCDs, to open on June 15, 2020, is of 2,100 crore with option to retain over-subscription up to 1,900 crore
  • The issue, set to close on the same date (June 15), will offer coupon rate of 7.25 per cent per annum payable annually.

NEW DELHI : Mortgage lender HDFC Ltd on Thursday said it will raise up to 4,000 crore by issuing bonds on private placement basis.

The issue size of the secured redeemable non-convertible debentures, to open on June 15, 2020, is of 2,100 crore with option to retain over-subscription up to 1,900 crore, HDFC said in a regulatory filing.

The issue, set to close on the same date (June 15), will offer coupon rate of 7.25 per cent per annum payable annually. The date of redemption is June 17, 2030.

"The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilized for financing/refinancing the housing finance business requirement of the Corporation," Housing Development Finance Corporation Limited said.

HDFC Ltd stock ended 1.25% lower at 1,787.10 on BSE on Thursday.

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