HDFC to raise up to ₹5,000 crore on January 71 min read . Updated: 05 Jan 2020, 08:16 AM IST
- The secured redeemable non-convertible debentures will bear a coupon rate of 7.50% per annum
- The issue opens and closes on Tuesday
NEW DELHI : HDFC Ltd, country's largest mortgage lender, said it will raise up to ₹5,000 crore by issuing bonds on a private placement basis to augment its long-term capital needs.
The secured redeemable non-convertible debentures will bear a coupon rate of 7.50% per annum, HDFC said in a regulatory filing.
The issue size of the bond issue is ₹3,000 crore with an option to retain oversubscription up to ₹2,000 crore.
"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 of the housing finance business requirements of the Corporation," it said in the filing.
The issue opens and closes on Tuesday.