HDFC to raise Rs 1,035 cr via bonds on private placement

HDFC today said it will raise Rs 1,035 crore through issuance of debentures on a private placement basis to augment its long-term capital resources.
"The object of the issue is to augment 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 in a regulatory filing.
The bonds in the form of secured redeemable non- convertible debentures will carry a coupon rate of 8.5 per cent per annum.
HDFC shares were trading 1.78 per cent down at Rs 1,220.45 on BSE during the afternoon session.