HDFC to issue NCDs worth Rs. 500 crore on Aug. 26
HDFC Ltd. has announced to issue bonds worth Rs. 500 crore on August 26 to meet long-term capital requirements.
In a BSE filing, the company said that it would issue secured redeemable non-convertible debentures on a private placement basis for a tenor of one-and-a-half years to raise the amount.
"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 requirements of the Corporation," HDFC said in a regulatory filing.
"The bonds would carry coupon rate of 7.7 percent per annum," the statement added.
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