The Housing Development Finance Corporation Ltd (HDFC) on Friday announced it had raised Rs 3,300 crore ($504 million) through rupee denominated bonds from overseas investors (Masala Bonds) under its $750-million Medium Term Note programme.
"We have received an overwhelming response from 29 investors across Asia and Europe. The aggregate demand for the transaction was 2.16 times at Rs 4,315 crore ($657 million)," the company said in a regulatory filing to the BSE.
HDFC launched an issue of Rs 2,000 crore ($306 million) with a greenshoe option under the MTN programme earlier in the day.
"We closed the issue for bonds worth Rs 3,300 crore, which will yield 7.35 per cent interest per annum and payable semi-annually," it said in the filing.
The over three-year unrated bonds, which will mature on April 30, 2020, will be listed on the London Stock Exchange (LSE), it added.
--IANS
fb/vd
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app